Exemption u/s 54f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2011 If assessee construct building with 4 floor and 4 individual houses in each floor. Can he calim deduction u/s 54F on entire construction cost. if possible pl quote case laws.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

28 October 2011 The provision u/s 54F provides for investment of sale proceeds in purchase or construction of “a residential house”. So ,prima facie,the exemption is avalable for one residential house purchase or construction only .

For case laws you may refer
i)I.T.O v. Ms. Sushila M. Jhaveri [2007] 107 ITD 327 (Mum-Tri).

ii)B.B. Sarkar v. CIT [1981] 132 ITR 150(Cal).

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

swaminathan

ASHOK B GONDKAR

Shameem ahmed

Nayan shetty

Pratap Kumar De

Subscribe Now

Exemption u/s 54f

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANT

Senior Executive

Accountant

GST CONSULTANCY