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.
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).
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
