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54 Section

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kumar rajat

285 Points Posted on 06 December 2022

If a person already has 5 residential properties and he sells one of his properties and buys another Residential property, then he will get exemption under section 54.
Yes or Not

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Quick Summary

This discussion clarifies the applicability of Section 54 for capital gains tax exemption when selling and buying residential properties. While generally applicable, it's noted that the exemption can typically be claimed only once in a lifetime. The conversation also touches upon whether there's a limit on the number of residential properties owned for this exemption.