54f construction of first floor
This query is : Resolved
11 March 2014
To avail the exemption u/s 54F, can the construction of first floor in an existing house be eligible for deduction?
What are the legal requirements for the same?
Is separate registry for first floor required?
Also, what are the provisions for deposit under Capital Gains Deposit Scheme?
What are the legal requirements for the same?
Is separate registry for first floor required?
Also, what are the provisions for deposit under Capital Gains Deposit Scheme?
11 March 2014
if the house are connected no sep regsitration are required as its construed as i house only for sec 54F.
u need to keep it in Deposit scheme if not utilised in the same year and only must be used for the purpose for which deduction is claimed.
u need to keep it in Deposit scheme if not utilised in the same year and only must be used for the purpose for which deduction is claimed.
11 March 2014
Ok, Thanks.
Confusion was mainly regarding construction of first floor.
Confusion was mainly regarding construction of first floor.
11 March 2014
ur welcome swasti.....
11 March 2014
Ok, Thanks.
Confusion was mainly regarding construction of first floor.
Confusion was mainly regarding construction of first floor.
11 March 2014
ya i have ans that if the original house is connected to first floor via ladders then it is allowed u/s 54F
11 March 2014
Yes. Thank you so much!
11 March 2014
you are welcome once again swasti.....
11 March 2014
There is a passing reference in Kerala High court decision in Ms. Meera Jacob Vs. ITO reported in 313 ITR 411 that " a self contained additional floor to the existing house qualifies for exemption under section 54F of the Income tax Act,1961".
11 March 2014
Thank you so much sir!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- EPF FULL & FINAL RULES IN 2026
- Gift Received from nonblood relative
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Experts need help
- Management System (IMS)
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
