House property section 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2015
I purchased a flat in may 2005 and sold it in oct 2013. And hence re invested the sale proceeds to buy a residential flat in dec 2013.
But in 2011, I got a apartment under a will from my father after his demise.
So do i qualify for section 54 exemption from one residential property to another.
and then I have not shown the details of sale and re investment in my tax returns.
But now do i need to show it or is it so since I'm owning more than 1 property at the time of sale- exemption cant be obtained?
please guide me here.
But in 2011, I got a apartment under a will from my father after his demise.
So do i qualify for section 54 exemption from one residential property to another.
and then I have not shown the details of sale and re investment in my tax returns.
But now do i need to show it or is it so since I'm owning more than 1 property at the time of sale- exemption cant be obtained?
please guide me here.
04 October 2015
section 54 has no limit on number of houses under possession. that limit is under section 54F
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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- EPF FULL & FINAL RULES IN 2026
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Eway bill generation from place other than registeted
- FTS Taxable under 115A
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
