Section 54-f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2012 During the f.y. 2011-12 I have sold one plot for 6 lacs and purchased one flat for 6.4 lacs. I also sold one shop for 8 lacs and purchased one residential house for 8.5. lacs. Can I claim decuction u/s 54-F on both transactions. I have no other immovable asset.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 March 2012 Can claim deduction under section 54F for both of the transactions because conditions as in sub clause(i) and (ii) of clause (a) of first proviso to the said section is not cumulative by virtue of the usage of the word 'or' therein.

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2012 Thanks for quick reply Sir.Is there any case law to strengthen and support my claim

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