Capital Gains - whether extension qualifies for 54 f
This query is : Resolved
02 September 2009
My client has received a long term capital gain on transfer of a plot. He wants to invest his capital gains in extension of his own house by constructing an additional floor. Will extension amount to reinvestment of capital gains in accordance with sec 54f?
02 September 2009
Extention or addition in exhisting house not permitted u/s. 54f.
02 September 2009
Extension to the existing house would not mean constructing a residential house as contemplated under section 54F.
Citation:- V.Pradeep Kumar 153 Taxman 138 (Mad).
Citation:- V.Pradeep Kumar 153 Taxman 138 (Mad).
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