can i claim exemption under section 54f
I have sold an agriculture land and now i want to purchase a residential house.
on the date of transfer i own a residential house (100% share) and a small portion (about 5-10%) in another residential house... so pleasee let me know wheather i can claim exemption under section 54F or not...
NO.... you cannot claim proportionate exemption u/s54f as you are already owner / co-owner of 2 houses (% in ownership is ignored)
correct me if wrong
O P Bagla & Co LLP
New Delhi
CA Inter
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Shyam Joshi & Associates
Pune
B.Com
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