Income tax on capital gain section 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 April 2013
A MAN SELLS A HOUSE FOR 50 LAKHS AND HE PURCHASES TWO HOUSES FOR 28 AND 25 LAKHS.
I WANT TO KNOW THAT IS IT COMPLETES SEC. 54 AND CAPITAL LOSS
OR HE CAN TAKES ONLY ONE HOUSE FOR SECTION 54.
I WANT TO KNOW THAT IS IT COMPLETES SEC. 54 AND CAPITAL LOSS
OR HE CAN TAKES ONLY ONE HOUSE FOR SECTION 54.
CA Vikas Acharya
(Expert)
20 April 2013
only one house for section 54 is allowed, though there could be different units in a house, but even two houses in same building are not allowed.
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