Capital gains
This query is : Resolved
25 September 2012
Sir,
Have a query regarding section 54 F Deduction, the case is as below :
Mr A and Mrs A have holding of 50:50 in an house property which they sold fr 1 cr( Assume Capital gain 60 lakhs). And for 54 F Mr A has taken the full amount of gain in his return(1cr) and also mr A had purchased a flat on his his name worth 50 Lacs.
so can mr A take the whole income in his own account and take deduction for 50 Lakhs or he has to take only 50 lakhs as his income?
If he can take the amount of 1 cr fully in his name then also please let me know the case studies realted to that
Thankyou
Have a query regarding section 54 F Deduction, the case is as below :
Mr A and Mrs A have holding of 50:50 in an house property which they sold fr 1 cr( Assume Capital gain 60 lakhs). And for 54 F Mr A has taken the full amount of gain in his return(1cr) and also mr A had purchased a flat on his his name worth 50 Lacs.
so can mr A take the whole income in his own account and take deduction for 50 Lakhs or he has to take only 50 lakhs as his income?
If he can take the amount of 1 cr fully in his name then also please let me know the case studies realted to that
Thankyou
25 September 2012
Mr A can take only 50 lakh as his income.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
