exemption under section 54
it is mention that capital asset transferred should be
building or land appurtenant thereto .
whether it includes residential house or not
and what is the meaning of land appurtenant thereto word.
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capital gain
Replies (2)
means any place which is not indivisible from building.. e.g. parking place, swimming pool,garden..
Building or Land Appurtenant thereto. The scope of this head of income is limited to the income from buildings or lands appurtenant (attached or situated in the vicinity of building) to buildings only. Buildings include residential houses, bungalows, docks, warehouses, any block of bricks or stone work covered by a roof etc.
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