Exemption under section 54 of income tax act
This query is : Resolved
26 February 2014
Joint holders can claim benefit under section 54 of IT act 1961, at the time of sale of jointly held property and purchase of new properties by each of holders separately.
Each holder eligible for benefit u/s 54 for sale of jointly hold property and purchase of new separate properties.
Thanks in advance.
Each holder eligible for benefit u/s 54 for sale of jointly hold property and purchase of new separate properties.
Thanks in advance.
27 February 2014
yes,..each joint holder has the option to invest separately. there is no need to joint investment to claim section 54 exemption
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