IF A PERSON OWNS MORE THAN ONE RESIDENTIAL HOUSE ON THE DATE OF TRANSFER, CAN EXEMPTION U/S 54F BE AVAILED. THE GAIN HAS BEEN INVESTED IN CONSTRUCTION OF ANOTHER HOUSE PROPERTY, OTHER THAN PREVIOUSLY OWNED RESIDENTIAL PROPERTIES. PLEASE SUGGEST AT THE EARLIEST. THANKS IN ADVANCE
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Exemption u/s 54f
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The assessee should not own more than one residential house on the date of transfer to claim exemption u/s 54F.
yes that what the provision says, but is there any way out for claiming exemption as a very senior most auditor has shown in the computation of one of my new clients.
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