Sell two houses for one house and still get exemption
This query is : Resolved
06 February 2019
The Assessee has sold two houses in an AY and bought one house with the money received. Will he get exemption from capital gain from both the houses
Amol S Joglekar
(Expert)
07 February 2019
Assuming both the houses are "residential houses"...... yes, the assessee can claim the exemption from both the houses
08 February 2019
Hi, thank you so much for your prompt response. Could you please provide with relevant Section/Rule in the Income Tax Act or relevant Judgement of a court case clarifying the same ?
Amol S Joglekar
(Expert)
08 February 2019
section 54 of income tax act.
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