54f exemption
This query is : Resolved
Sanjeevayashaswini
(Querist)
09 January 2016
landlord gave site for development and taking four flats as consideration.whether d value of four flats has to be taken as investment under sec 54 f or value of one flat
CA PARAS BAFNA
(Expert)
09 January 2016
Only one residential house can be purchased U/s 54F.
.
.
09 January 2016
Refer case laws K.G. Rukminiamma case or D. Anand Bassappa case both Karnataka High Court.
KAVIRAJA ADDANGADI
(Expert)
01 February 2016
As per new provisions of income tax only one house is eligible for deduction .
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