Sell two houses for one house and still get exemption

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Tehseen (Querist)
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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

Amol S Joglekar (Expert)
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07 February 2019 Assuming both the houses are "residential houses"...... yes, the assessee can claim the exemption from both the houses

Tehseen

Tehseen (Querist)
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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

Amol S Joglekar (Expert)
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08 February 2019 section 54 of income tax act.

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Sell two houses for one house and still get exemption

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