Deduction us 54 if already has 2 other house properties

A plot is purchased in FY 2008-09. After that 25 % construction is completed on that plot as per HUDA laws in FY 2011-12. Now this house is sold in current FY.

We have two more flats/residential property  since FY 2008-09, which are given on rent and rent income is shown under the head Income from house property.

Whether we can clain deduction us 54, if we invesrt the sale proceed/capital gains arise from above property in purhase of new residential property.

 

 

Replies (1)

Yes, exemption can be availed u/s. 54, provided the property is sold  as house property. If need be it may be completed for OC/CC

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