Section 54
This query is : Resolved
29 March 2018
A person has purchase a residential property in year 2012 then after he purchased another residential house with its jointholders in 2015 and then after he sale the first residential property in 2016 on which LTCG arise
so in that case we can take deduction under section 54 of income tax.
so in that case we can take deduction under section 54 of income tax.
K Srinivas, CMA CS
(Expert)
29 March 2018
eligible for deduction if the assessee's investment in the new property exceeds the Capital gains from the earlier asset
30 March 2018
Is deduction is also available in case of newly property purchased jointly?
Dhirajlal Rambhia
(Expert)
31 October 2021
Yes, eligible for deduction.
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