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Q. > Please Help: Capital Gain
Whether exemption is available under section 54 for purchase of more than one residential houses? Also quote relevant decided case law.
answered May 08, 2012 by Rishabh Upadhyay , Chandigarh
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.
answered Jul 01, 2012 by Rambabu Senkarasetti , Guntur
no
answered Jul 01, 2012 by Rambabu Senkarasetti , Guntur
no
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