Sec 54 property
This query is : Resolved
Satish Singhania
(Querist)
21 January 2014
An old long term commercial property be sold and new commercial property is being purchased, can exemption u/s 54 be availed???
What if old property is residential and new property is commercial?
What if old property is residential and new property is commercial?
21 January 2014
In the cited cases, section 54 can't be availed since sold and purchased assets (both) are not residential properties.
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