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Sec 54f

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2013 My sister had sold the shares of a non-listed company in July 2012 and to avail exemption U/s 54F has invested in a residential house property.
Now again in F.Y.2013-14, she is selling remaining shares and is expecting capital gain of 25 lacks. Whether she can again invest in a new residential property to avail the exemption u/s 54F
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CA Dhaval Patel

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CA Dhaval Patel (Expert)
05 September 2013 As she has already bought new house, She cannot claim 54F. 54F allows only 1 House Investment.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
06 September 2013 You can claim exemtion u/s 54F as it is available till purchase of second house i.e. Assessee should not own more than one residential house for claiming this exemption
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