Section 54

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2017 I AM HAVING 3 RESIDENTIAL HOUSE PROPERTIES. TWO I HAVE LET OUT AND I AM STAYING IN ONE HOUSE. I HAVE SOLD THE PROPERTY I HAVE LET OUT AND AGAIN PURCHASED ANOTHER (1) HOUSE PROPERTY WITH IN 2 MONTHS. CAN I CLAIM EXEMPTION U/S 54 EVEN IF I ALREADY HAVE TWO RESIDENTIAL HOUSES.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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27 January 2017 Yes you can claim section 54 exemption since the condition not to have more than one residential house at the time of transfer of original asset is contained in section 54F and not under section 54.

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2017 THANK U SO MUCH DEAR SIR FOR THE SPEEDY AND USEFUL REPLY

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