Section 54
This query is : Resolved
vivek gusani
(Querist)
09 May 2018
IF AN ASSESSEE ACQUIRE MORE THAN 3 HOUSE AND SELL ANY ONE OF THEM. AND OUT OF SELL CONSIDERATION HE BUY ANOTHER HOUSE WITHIN SIX MONTH CAN HE CLAIM EXEMPTION UNDER SECTION 54. BECAUSE HE ALREADY ACQUIRES MORE THAN ONE HOUSE.
CA PARAS BAFNA
(Expert)
09 May 2018
He can buy/acquire only one house U/s 54 out of the amount of LTCG of a Residential House.
He can have or own many.
He can have or own many.
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