to claim exemption u/s 54f by nri

one my client being reisdent of uk has sold a property in india and has invested sale proceeds in residential house in india to the extent 66% and balance in house purchased in u.k.by his spouse.can he claim deduction u/s 54f

asked Dec 23 '13 at 19:17 by ca sanjay agrawal 11


Yes, section 54F deduction can be taken, but only for residential house purchased on his own name.

He would also be liable to pay tax on remaining 34% of unused gains proportionally.

answered Dec 23 '13 at 20:47 by Pankaj Batra 5.2k320

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Asked: Dec 23 '13 at 19:17

Seen: 1,806 times

Last updated: Dec 23 '13 at 20:47