Tax Exemption: Own Only One Residential House to Qualify u/ss 54/54F, Spouse's Property Excluded.

Exemption u/s 54/54F - The assessee should not own more than one residential house, other than the new asset. The word used in the section is the residential house but not the commercial property. - Similarly, the property, of the wife cannot be attached to the assessee for the purpose of disallowing the deduction u/s 54F .....

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