Dear All,
I require a small clarrification regarding Capital gain section 54 series. Can Assessee be a owner for more than one house property at the time of tranfer of capital Asset.
Please let me know respective provisions for which it deals with.
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Capital gain
Replies (4)
In section 54 there is no condition unlike section 54F that the assessee should not be an owner of more than one residential house property at the time of transfer of original asset.
Agreed with the above
Thank you for your response,
Is amendment in Sec 54 (Finance Bill) additionally impose any condition, stating Assessee shall have to own only one house property
The amendment w.e.f. AY 2015-16 is to the effect that the assessee will get exemption in respect of only one residential house.
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