Please Help: Capital Gain
Posted Date : 07-May-2012 , 05:08:44 pm | Posted By Ashish Chaudhary
Whether exemption is available under section 54 for purchase of more than one residential houses? Also quote relevant decided case law.
Category : Income Tax | Answers : 3 | Comments : 0 | Hits : 171
Answers
Answer By: Rishabh Upadhyay
The answer to your question in NO. The thought process before Section 54F is that id an assesse has to sale off his (ONLY) residential property and derives some capital gain, than the same must be exempted if he purchase or construct another property. Hence the condition of No OTHER RESIDENTIAL PROPERTY in the name of assesse stands applicable.
Answer By: Rambabu Senkarasetti
no
Answer By: Rambabu Senkarasetti
no
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