Qualification for LTGT Exemption

Mr. Batra, If one owns 1) a plot of land, 2) a flat (wholly owned) and 3) is the second holder of another flat, then if the plot of land is sold can Section 54F be applied by buying another flat in 2 years? Thanks

asked Feb 24 '15 at 15:59 by Viv 11


As assessee is owner of more than one residential house properties (whole or joint) at the time of sale of plot, he is not eligible for tax benefit u/s 54F.

answered Feb 24 '15 at 16:30 by Pankaj Batra 5.2k320

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Asked: Feb 24 '15 at 15:59

Seen: 1,225 times

Last updated: Feb 24 '15 at 16:30