Section 54 of capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2013
Assesse has 3 Residential House Property(HP), he/She sold one HP & Purchased Another HP within 3 months.
Is He/She get benefit of Sec 54???????
I heared that assess gets benefit in sec 54 only if he/she has 2 HP.
Is it Right???????
Is He/She get benefit of Sec 54???????
I heared that assess gets benefit in sec 54 only if he/she has 2 HP.
Is it Right???????
15 May 2013
He will get the benefit U/s 54 if capital gain is arising on transfer of a residential house irrespective of number of houses are held by him.
.
The restriction of not more than 1 house is prescribed U/s 54F, which is applicable when the asset transferred is other than a residential house.
.
.
The restriction of not more than 1 house is prescribed U/s 54F, which is applicable when the asset transferred is other than a residential house.
.
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