Capital Gain from sale of property

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  1. Himanshu patodi

    Himanshu patodi New Member

    I have received 2 houses in inheritance from parents, and I have bought one in my own name. So as of today, I have 3 houses in my name.

    Now out of the inherited houses, I am selling one house and want to buy another residential house.

    Someone advised me that I will not get capital gain exemption in sale of this property as I already will have 2 residential properties in my name.

    Plz advise how to get capital gain exemption.
  2. Karan Batra

    Karan Batra Well-Known Member

    I think the person who gave you this guidance got confused in between Section 54 and Section 54F.

    Section 54 is applicable in your cases and exemption under this section is allowed even if you own multiple houses.

    Section 54F which puts a restriction is not applicable in the above mentioned case
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