sec 54F & Sec 54EC

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  1. Dipak85

    Dipak85 New Member

    Assesses owned Residential house and commercial shop(LTCA). He sold commercial shop as on 15.12.2015 which was held since 2002. He has purchased new residential house as on date 09.09.2015(within 1 year before transfer of shop) for purpose of availing exemption of sec 54F.

    Queries :

    1) one of condition to avail exemption of sec 54F is assesses shall not own more than one resi. house other than new resi. house. Is this condition applicable in above case and hence not able to get benefit under section 54F.

    2) Can assesse claim both sec 54F and sec 54EC benefit together. is there any case law.

    Plz help...
     
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