54F exemtion
This query is : Resolved
29 November 2010
date of pur of res. house on 15-12-06 and sold shop on 14-2-08 whether exemption is available or not if whole consideration is paid from 1-4-07 to 31-03-2008 and possetion recd before 31-1-10
29 November 2010
YOu can claim the benefit of exemption
Message likes :
1 times
29 November 2010
Holding period is less than 36 Months. So it is a short term capital asset. Deduction under section 54 will not be allowed for short term capital asset.
Message likes :
1 times
29 November 2010
sir,
please read the question once again there is no point of short term capital assets because my point is on first purchase of residential house property & then sale of Shop. the matter is of availability of exemption of sec.54f
please read the question once again there is no point of short term capital assets because my point is on first purchase of residential house property & then sale of Shop. the matter is of availability of exemption of sec.54f
29 November 2010
My observation is wrong.
Message likes :
1 times
30 November 2010
EXEMPTION U/S 54 f WILL NOT BE AVAILAIBLE BECAUSE PURCHASE SHOULD BE DONE WITHINONE YEAR BEFORE THE SALE
Message likes :
1 times
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
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
