Sec 54f
This query is : Resolved
Querist : Anonymous
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
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
05 September 2013
As she has already bought new house, She cannot claim 54F. 54F allows only 1 House Investment.
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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