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exemption u/s 54
is there any exemption u/s 54 for sale nd purchase of vacant site....
Replies (5)
No such exemption.
Sec 54 exemption available if residential house property sold & purchase.
Sec 54 exemption available if residential house property sold & purchase.
is there any other section for exemption?
No......,.........
you can claim exemption under section 54F if the holding period of the land/plot sold was more than 36 months..you must not have more than one house property
Deduction u/s 54F availed only if residential H.P will be constructed or purchased by assessee.
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