Section 54F

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..... A owns One residential house and One site. A sells the house on 19/04/2021 and to off sets the Capital Gain by investing the required amount in another residential house on 30/6/2021 ( section 54 ). On the 15/6/2021 he sold the site and purchased another residential house on 30/12/2021 ( section 54F ) As per provisio to section 54F (1) , exemption available under that section will .....

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..... be denied if assesse invests in additional residential house with in one year after sale of site. The word used is Additional . In this case the ( section 54 ), new house was purchased first. Whether this house will fall with the meaning of Additional house even though bought before the purchases of second house ( section 54F ). - Reply By sagar Basu - The Reply = Section 54 F is not av .....

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..... ailable if the assessee purchases additional house property(other than new residential houses purchased to claim an exemption under section 54F ) within a period of 1 year from the date of transfer. As the earlier house has purchased to claim an exemption under section 54 not section 54F . So in my view house purchased to claim exemption under section 54F does not fall under purchase o .....

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..... f additional house - Section 54F - Query Started By: - Ethirajan Parthasarathy Dated:- 9-5-2022 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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