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one residential house in capital exemption

amol bramhankar (artical tranee) (260 Points)

15 November 2018

Dear friends,
One residential house means what in capital gain exemption .?

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JERIT JOSE (24 Points)
Replied 15 November 2018

residential property as defined in income from house property

amol bramhankar (artical tranee) (260 Points)
Replied 15 November 2018

One means already you have or new one

Mayur Patil (Article) (1276 Points)
Replied 15 November 2018

Sec 54
How many house you own its doesn't matter even if you sold multiple house and also invested in multiple house still capital gain exemption available for one house only (means new one) CG arise from rest house are taxable
As per amendment FA[2014]

Where sec 54F
Available if you sold any LTC asset and invested in residential house (sub to assessee should not hold more than one house at the date of transfer) means we can say that its available upto total two house

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