Sec 54
This query is : Resolved
11 May 2010
Whether two house property can be purchased on a sale of one house property to claim exemption u/s. 54.
11 May 2010
only purchase of a residential house allowed not two.
11 May 2010
however this can be done
When more than one house is purchased - In case the assessee has purchased more than one house/flat within the period prescribed in section 54, it is for the assessee to claim relief against the purchase of any one of the house/flat provided the other conditions mentioned in the section are satisfied - K.C. Kaushik v. P.B. Rane, ITO [1990] 84 CTR (Bom.) 62.
When more than one house is purchased - In case the assessee has purchased more than one house/flat within the period prescribed in section 54, it is for the assessee to claim relief against the purchase of any one of the house/flat provided the other conditions mentioned in the section are satisfied - K.C. Kaushik v. P.B. Rane, ITO [1990] 84 CTR (Bom.) 62.
Guest
Guest
(Expert)
11 May 2010
Dear vinesh,
Please see this link.
https://www.caclubindia.com/forum/is-sec-54-deduction-allowed-for-2-houses-80254.asp
Regards
K.ilayaraja
Dear vinesh,
Please see this link.
https://www.caclubindia.com/forum/is-sec-54-deduction-allowed-for-2-houses-80254.asp
Regards
K.ilayaraja
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