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TMI BlogCaptial Gain - 54F ExemptionX X X X Extracts X X X X X X X X Extracts X X X X ..... Captial Gain - 54F Exemption X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 54F. Assessee is not having any residential house on the date of transfer. Assessee purchased one residential house for claiming exemption under section 54F. Can the assessee purchase a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nother house within the period of 2 years without loosing the benefit of earlier exemption, as the assessee can hold two residential houses under section 54F? Regards Neeraj Taneja RAPG & Co. Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y By Alpesh Shah: The Reply: Dear Mr. Neeraj, Section 54F mentions circumtanes when exemption granted under section 54F may be withdrawn, which says that if assessee purchases, within a period of tw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o years of transfer of original assets, or constructs within a period of three years of transfer of such assets, a residential hous other than the new house. (whose income is taxable under the head "I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome from house propert")
Thus, to conclude the assess can not purchase another house within the period of two years.
Regards,
CA. Alpesh Shah,
Vadodara X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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