Sec 54(1)

Direct Taxation

Can an assessee claim deduction in respect of reinvestment in another hp, if is already owns 1 or more hp?

Bhaghya Rajesh

CA Final

★ 1K+

10-Nov-21 07:21

577

Answers (1)

Assessee owning multiple HP can claim deduction under S.54 for 2 HP if the LTCG does not exceed 2 crores, if LTCG exceeds 2 crores, he can claim exemption for only 1 HP all basic conditions mentioned in the section should be met

lavanya k

CA Final

★ 2K+

10-Nov-21 10:14

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Sec 54(1)

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