Section 54
This query is : Resolved
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?
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?
12 January 2020
Exemption under section 54 not available for buying commercial property.
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
NO
B. Can he do the investment in personal name in the hotel and avail exemption?
NO
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