NRI CG deduction u/s 54 and U/s54F

Happy days sirji,

Sirji, i had a doubt that, an NRI having an House property/Land in India, and it has been sold in india and amount recived in India has been invested In New House Property in London, my doubt is that whether an NRI can claim deduction U/s 54 and U/s 54F of Income tax under Capital Gain.

asked Jan 08 '13 at 20:20 by Harsh Baradia 111


Both section 54 and 54F are silent on location of new residential property, so one may buy property outside India too.

But if IT department sends notice for same, then it may be fought legally in court.

answered Jan 09 '13 at 20:08 by Pankaj Batra 5.2k320

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Asked: Jan 08 '13 at 20:20

Seen: 2,343 times

Last updated: Jan 09 '13 at 20:08