Why Firm Can Not Claim Exemption u/s 54 or Tax Relief u/s 23(2) .

Section 54 of the I T Act provides exemption in case capital gains arises on sale of house property whereas section 23(2) says that annual value of a house property occupied by owner is NIL. The issue is “whether these tax exemption provisions are available incase of a firm which owns house property?” The said...

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