exemption /investment for exemption u/s 54
This query is : Resolved
07 September 2010
Please advise whether under section 54F, the investment in NEW residential unit can be construction of the 1st floor where the assessee is staying in ground floor.
The question is whether the construction of First floor which can be taken as an independent unit can be taken as investment/construction of NEW RESIDENTIAL unit for the purpose of claiming exemption.
Thanks
Viswanathan.C.P
The question is whether the construction of First floor which can be taken as an independent unit can be taken as investment/construction of NEW RESIDENTIAL unit for the purpose of claiming exemption.
Thanks
Viswanathan.C.P
07 September 2010
Yes 54 F can be availed. Read the article in https://www.hindu.com/pp/2004/05/22/stories/2004052200140500.htm
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