Exemption u/s 54 for residential house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2011
Hi,can someone pls tell me that how many residential houses can be claimed as an exemption u/s 54 since the language of the act "a residential house" is not clear.
Also, if we buy two adjacent flats & convert them into one unit(but they are registered as 2 flats), can we take exemption of both flats as one unit irrespective of fact that exemption is available for one unit or more?
Also, if we buy two adjacent flats & convert them into one unit(but they are registered as 2 flats), can we take exemption of both flats as one unit irrespective of fact that exemption is available for one unit or more?
31 January 2011
On factual matrix deduction is allowed in certain cases. One such case can be seen in
https://164.100.80.145:8080/dspace/bitstream/123456789/441273/2/ITA783-08-27-08-2010.pdf
https://164.100.80.145:8080/dspace/bitstream/123456789/441273/2/ITA783-08-27-08-2010.pdf
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- 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
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
