Sec. 54 & 54 F

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any
151 Points Posted on 05 March 2020
case 1
A has more than one house properties and he sales one of them .
can he get exemption u/s 54 ?
case 2
A has more than one house properties and a commercial property .
can he get capital gain exemption ?
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On 05 March 2020 at 12:50 Report
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Quick Summary
This discussion clarifies the conditions for claiming capital gains tax exemption under Sections 54 and 54F of the Income Tax Act. It explains that Section 54 does not restrict an individual from owning multiple residential properties to claim exemption on the sale of one. However, Section 54F has specific conditions regarding the ownership of residential houses.

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CA Practice
60 Points Posted on 05 March 2020
In case 1 - Sec 54 contains no provision that the assessee should not hold more than one house for claiming exemption.

In case 2 however have condition, that assessee should not own more than one residential house.
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On 05 March 2020 at 23:26
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any
151 Points Posted on 06 March 2020
Thanks @ CA ABHISHEK PAL
1 Reply
On 06 March 2020 at 11:09

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