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Section 54

This query is : Resolved 
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(Querist)
12 January 2020 Mr. A has sold a residential house in his personal file. Now he wants to invest the funds for purchase of a hotel, ie a commercial property. The investment will be routed through a company in Mr. A is a director.
A. Can such routing of funds enable him to avail exemption u/s 54?
B. Can he do the investment in personal name in the hotel and avail exemption?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 January 2020 Exemption under section 54 not available for buying commercial property.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
13 January 2020 A. Can such routing of funds enable him to avail exemption u/s 54?

NO

B. Can he do the investment in personal name in the hotel and avail exemption?

NO
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