Section 54f
This query is : Resolved
25 January 2016
'A' is the owner of two residential property.both properties were purchased in 1995.now A is selling his one property.Obviously long term capital gain would arise.now question is that is A entitled to get exemption u/s.54F as he is already owner of one house..
26 January 2016
Dear Sir,
As per section 54(F) exemption is available only the capital asset which is transferred is long term capital asset BUT OTHER THAN A RESIDENTIAL HOUSE PROPERTY. therefore in this case exemption under section 54(F) is not available.
As per section 54(F) exemption is available only the capital asset which is transferred is long term capital asset BUT OTHER THAN A RESIDENTIAL HOUSE PROPERTY. therefore in this case exemption under section 54(F) is not available.
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