exemption u/s 54

As far as Sec 54 is concerned, assesse should not own more then one residential house on the date of transfer of the original asset, exclusive of the one purchased for claiming exemption under this section i.e. section 54F

Sec.54 exemption for residental house

assessee can claim exemption u/s 54, provided the new asset should not be transfered withing 3 yrs form the date of its acquisition. if the new asset is transfered within three yrs the exemption will be withdrawn.

Exemption u/s 54 can be claimed....

Sec 54F only deals with more than one Residential house restriction...

The Assessee can transfer the residential and invest in another Residential house and claim exemption u/s 54.

Originally posted by : Sowmya.S.Balan
	dear friends assessee tranfers residential house and purchase another residential house within 6 months. But he has two other residential houses at the time of transfer & purchase of new one . Can he claim exemption u/s 54

 YES HE CAN u/s 54.  Section 54F makes  owning more than one house on the date of transfer ineligibe of exemption. Not section 54. So, Go ahead.

Yes the assessee can claim exepmtion u/s54. i agree with amit ji