Exemption u/s 54f

This query is : Resolved

Shashikant (Querist)
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13 September 2011 WHETHER PURCHASE OF PLOT FOR CONSTRUCTION IS TREATED AS PURCHASE OF RESIDENTIAL HOUSE. FOR THE PURPOSE OF CLAIMING OF EXEMPTION U/S 54 F.

IF THERE IS ANY CASE LAW OR JUDGEMENT PLEASE REFER TO THIS.

SHASHIKANT

Hari Beldona

Hari Beldona (Expert)
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13 September 2011 New asset-Residential House (not Plot)
Prescribed period for investment:
1.In case of purchase- before 1 year or 2 years after the date of Transfer.
2.In case of construction:3 years after the date of Transfer

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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13 September 2011 NO, PURCHASE OF PLOT FOR CONSTRUCTION IS NOT TREATED AS PURCHASE OF RESIDENTIAL HOUSE. FOR THE PURPOSE OF CLAIMING OF EXEMPTION U/S 54 F.

Abhishek Ranjan Singh
ARS Solution
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+91 9022838615

Shashikant

Shashikant (Querist)
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15 September 2011 Dear sir,

As per circular no 667 of 1993 is says that purchase of plot is considered as residential house for 54F.

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