54f

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gaurav (Querist)
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16 March 2009 my client has cash withdrawls in his account. he constructed a house for sec. 54f. but he did not take bills of material because of vat. and other local taxes. And some expenses like labour, sand etc. dont backed by bills or invoices. but actually there is a proper constructed house.

Can we take exemption u/s 54f without bills just on the basis of architects report of construction.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2009 Certainly you can,with the support of building construction permit and completion certificate of local authorities.

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CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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17 March 2009 How can there be cash withdrawl in a Capital Gains Account Scheme?

gaurav

gaurav (Querist)
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19 March 2009 pls give case laws or more info.

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