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Ltcg exemtion on 2nd house property

Tax queries 180 views 1 replies

1.  A owned  house property  1 and 2,  both for more than 3 years. 

2.  A sold property 1 and acquired House property 3 and claimed CG exemption U/S 54 fullfilling all conditions . 

   While the admitted refund is pending due to wrong credit of TDS ( due to CPC technical issue) is being restored, 

3. Can A sell house property 2  and also seek exemption subject to  U/S 54 conditions ? 

4. Can Exemption U/S 54 be claimed on the sale of House property 3 after year 3 year holding ?

5. House property 1 was acquired by settlement while house property 2 was aquired by purchase,  has it any relevance ?

6. Does  "ONE HOUSE PROPERTY" means one can claim exemption U/S 54 only once in life time for ONE HOUSE PROPERTY 

 Some clarity soon on this status will be helpful

Thanks

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Replies (1)

3. Yes.

4. Yes

5. No.

6. No. 'One house property' is used for reinvestment of the capital gain in any single residential unit. (in India)


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