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Q. > Please Help: Deduction us 54 if already has 2 other house properties
A plot is purchased in FY 2008-09. After that 25 % construction is completed on that plot as per HUDA laws in FY 2011-12. Now this house is sold in current FY. We have two more flats/residential property since FY 2008-09, which are given on rent and rent income is shown under the head Income from house property. Whether we can claim deduction us 54, if we invest the sale proceed/capital gains arise from above property in purhase of new residential property.
CA Sansaar

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