Menu
Section 54f
'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..
Replies (3)
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.
Can A get exemption?.....as he is the owner of one house propert already...
Nope. Existing ownership doesn't qualify for claiming exemption.
Recent Topics :
- Capital Gain on sale of Depreciated Factory Gala
- Interesting Observation from a Recent Income Tax S
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
Related Topics :
CAclubindia
