clarification required regarding exemption u/s. 54

Hi, the limit is of having one house during investment is applicable for only and only sec 54F...

There's no such restiction for sec 54 as per IT Act,.... Under section 54, house property is considered as normal capital asset, and for any assessee there's no restriction for keeping more or less number of capital assets..... So, u/s 54, there are no such restrictions....

To claim exemption u/s 54, is it necessary that new residential house property purchased must be registered in the name of assessee? wat if he pays consideration but HP registered in name of his relative? Pls clarify.

Dear Kedar...

Answer to your question is sec 54 does not talk about no of res. house ...It only talks about investment should be made in Res. house....

and to Radhika

The Res. house should be registered in the name of the assessee who transfers the Res. house...But one choice is available the assessee can go for co-ownership....