Section 54F
This query is : Resolved
CA Abhishek Singh
(Querist)
09 January 2011
if one sells his shop (long term) and purchase a house property then will he be allowed exemption under section 54F. on the date of transfer he is owning only one residential house property.
Guest
Guest
(Expert)
10 January 2011
He will be allowed exemption under section 54F if he is owning only one residential house property as on the date of transfer.
12 January 2011
no shop is not residential property..
Guest
Guest
(Expert)
13 January 2011
It does not make any difference if the assets so sold is a shop .
Vivek Raju P
(Expert)
13 January 2011
Yes residential house is allowed 54F applies to capital gains on transfer of any asset other than a residential house. \
Guest
Guest
(Expert)
13 January 2011
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