Sec 54
This query is : Resolved
Akshay Jagatia
(Querist)
05 November 2014
Facts of d case:
Assessee currently owning 4 residential house properties...Wants to sell 1 HP & buy another HP...whether exemption u/s 54 allowed?..
m jst not getting d intention of law behind d words of this section - ONE HOUSE PROPERTY IN INDIA....
Nikhil Kaushik
(Expert)
05 November 2014
exemption under section 54 is allowed.
One house property was inserted to disallow investment in multiple house properties to claim exemption.
so you cannot invest, lets say, in two flats..only one house can be bought..
One house property was inserted to disallow investment in multiple house properties to claim exemption.
so you cannot invest, lets say, in two flats..only one house can be bought..
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