Student
3986 Points
Posted on 27 August 2019
1. Sec 54 only allows a claim of exemption for the purchase of a residential house and not for the renovation of residential house property.
2. In your case, expenses incurred can be claimed as improvement and indexation can be applied on the same but it cannot be considered as exemption u/s 54.
Please correct me if the above solution has an alternative view.