Section 54
This query is : Resolved
29 September 2019
One flat was purchased in 2006. Second flat was purchased in 2009. The second flat was sold in 2014 and the amount re-invested in one housing property. In this transaction, the benefit of section 54 was availed.
Now, the first property purchased in 2006 are being sold and the amount will be re-invested in one housing property.
Whether the benefit of section 54 available for the transaction or not
Now, the first property purchased in 2006 are being sold and the amount will be re-invested in one housing property.
Whether the benefit of section 54 available for the transaction or not
30 September 2019
Yes, the benefit of section 54 is available for the transaction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- Dep. as per companies act
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- UDIN ISSUE
- GST ISSUE OF INPUT AND OUTPUT GST
- FAST-DS Scheme - Foreign Assets
- Salary from Qatar in Dollars in India
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
ARTICLESHIP
30 September 2026
CA Article Assistant
CA Suraj Garg & Associates
New Delhi
CA Final
View Details
CCI
Pro
CAclubindia
