EXEMPTION U/S 54 AND 54F OF INCOME TAX ACT

Share
Share This Thread
  1. SUNANDA PARVATIKAR

    SUNANDA PARVATIKAR New Member

    An assessee owns a residential plot. She also owns a residential house property. The residential house property is jointly owned by the assessee and her spouse. The assessee wants to sale the house and the residential house property and invest the sale proceeds in a new residential house property which will be jointly owned by the assessee and her spouse. Can the assesee claim exemption under Section 54 and 54F. The assessee and her spouse does not own one more than one residential house property on the date of sale of the house property.

    Thanks
    Sunanda
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    Yes..Obviously you can claim exemption under both sections.i.eU/S54 & 54F.
     
  3. Manoj Mehra

    Manoj Mehra Active Member

    Yes, you can claim exemption under both the sections in this case.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
exemption of income tax under section 10(26) Income Tax Feb 24, 2018
Income tax exemption for a autistic child Income Tax Jan 10, 2018
Income tax exemption on compensation received from nhai Income Tax Nov 30, 2017
Tax Exemption / Deduction from total Income - Medical Expences Income Tax Jul 27, 2017
Regarding Income tax exemption Income Tax Mar 2, 2017