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???????
CA PARAS BAFNA
(Expert)
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.
.
Message likes :
1 times
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
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Employee secondment
- Import of Capital Machine
- LLP audit and disclosure
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Capital gain on commercial property and investment in residential property
- Gift to nri relatives resides in usa
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Closer of business and itc of capital goods
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- 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?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
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
CAclubindia
