Am I entitled to claim Capital Gains Exemption?

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  1. kailash chandra chowksey

    kailash chandra chowksey New Member

    i have two properties one on my name and the the other one on joint holding with my wife as fist name. i wish to sell the property held on my name and purchase another property from the sale proceeds of this property. my query is am i entitled to execemetions under sec 54 and its sub sections
     

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    kailash chandra chowksey, Apr 19, 2015
    #1
  2. Manoj Mehra

    Manoj Mehra Active Member

    Yes, you are entitled to deduction under Section 54 if the asset sold is a residential flat/ residential house.

    There is criteria regarding the no. of houses owned by an individual for claiming exemption under Section 54
     
    Manoj Mehra, Apr 19, 2015
    #2
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