TaxTMI 
TaxTMI 
TaxTMI 
Section 54F
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....ection 54F<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 9-5-2022 Last Reply Date:- 11-5-2022 Income Tax<br>Got 1 Reply<br>Income Tax<br>A owns One residential house and One site. ....
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.... 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 purcha....
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....sed another residential house on 30/12/2021 (section 54F) As per provisio to section 54F (1), exemption available under that section will be denied if assesse invests in additional residential house ....
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....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 e....
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....ven though bought before the purchases of second house (section 54F). Reply By sagar Basu: The Reply: Section 54 F is not available if the assessee purchases additional house property(other than new....
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.... 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 n....
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....ot section 54F. So in my view house purchased to claim exemption under section 54F does not fall under purchase of additional house<br> Discussion Forum - Knowledge Sharing ....