exemption under section 54F
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2010
a person has two residential house property during the accounting he sold one house and purchased another house property whether he can claim deduction U/S 54F
31 July 2010
NO HE IS NOT ELIGIBLE FOR 54F.
31 July 2010
EXEMPTION UNDER SECTION 54F WILL BE AVAILABLE ,WHEN ANY LONG TERM CAPITAL GAIN (OTHER THAN ARISING FROM RESIDENTIAL HOUSE PROPERTY)IS INVESTED TO ACQUIRE A HOUSE PROPERTY.
31 July 2010
No exemption will be available in your case
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