exemption under sec.54f
This query is : Resolved
20 February 2010
hello everyone
one of our client has two residential house property one let out and one self occupied. both flats are in joint name.
he has sold the letout property . can he claim sec.54f exemption if he purchases another house property within the prescribed time.
one of our client has two residential house property one let out and one self occupied. both flats are in joint name.
he has sold the letout property . can he claim sec.54f exemption if he purchases another house property within the prescribed time.
22 February 2010
Yes, he can because as said in this section that assessee should not owned more than 1 residential house property except new purchased.
Here, because if sold 1 property then he will have only 1 house property on the date of transfer/sale of House property in his hands so he can claim exemption u/s 54F.
Regards!!!
Dinesh S. Adhikari
Here, because if sold 1 property then he will have only 1 house property on the date of transfer/sale of House property in his hands so he can claim exemption u/s 54F.
Regards!!!
Dinesh S. Adhikari
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Not able to file ITR
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
