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
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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