Section 54f

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87 Points Joined December 2015
'A' is the owner of two residential property.both properties were purchased in 1995.now A is selling his one property.Obviously long term capital gain would arise.now question is that is A entitled to get exemption u/s.54F as he is already owner of one house..
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On 25 January 2016 at 16:34 Report
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Student CA Final
377 Points Joined November 2014

Gains may be exempted  

u/s 54: Investment in House property

and u/s 54 EC: investment in NHAI/REC Bonds,

subject to prescribed conditions being followed.

Sec. 54F won't apply.

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On 25 January 2016 at 17:32
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87 Points Joined December 2015
Can A get exemption?.....as he is the owner of one house propert already...
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On 25 January 2016 at 17:35
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Student CA Final
377 Points Joined November 2014

Nope. Existing ownership doesn't qualify for claiming exemption.

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On 25 January 2016 at 17:45


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