exemption under sec.54f
This query is : Resolved
CA Abhishek Singh
(Querist)
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Accounting treatment of AMC alongwith the purchase of Laptop
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
