Applicability of Exemption u/s 54
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....pplicability of Exemption u/s 54<br> Query (Issue) Started By: - DINESH MITTAL Dated:- 14-12-2009 Last Reply Date:- 31-12-2009 Income Tax<br>Got 2 Replies<br>Income Tax<br>'A' sold house in India and ....
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....purchase a new house within stipulated period in Canada, whether he is legible for exemption u/s 54. of the Income Tax Act, 1961 Reply By Dinesh Gupta: The Reply: There is no restriction in section 5....
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....4 of the Income Tax Act, which restrict the investment of capital gain within stipulated period in a house property situated out of India. Therefore you can buy a house in Canada and claim the exempti....
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....on. Reply By sunil gupta: The Reply: Dear friend you can refer to 282 ITR (AT)211 , Mumbai - wHERE IT HAS BEEN HELD SEC.54 DOES NOT PROHIBIT PURCHASE OF PROP. IN A FOREIGN COUNTRY.<br> Discussion For....
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....um - Knowledge Sharing ....


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