Regarding 54 f
This query is : Resolved
16 January 2019
assesee can claim for both property purchase and construction allowable in act or not
Nikhil Kaushik
(Expert)
16 January 2019
kindly be generous and properly draft your query.
16 January 2019
property sales 35,56,000/- date 15.05.2013
cost of acq 2,67,941/-
cost of improvement 3,48,829/-
capital gain 29,39,230/-
residential property purchase 13,57,000/-
cost of construction 13,91,691/-
A. O IS denied for cost of construction
please clarify regarding section 54 F
cost of acq 2,67,941/-
cost of improvement 3,48,829/-
capital gain 29,39,230/-
residential property purchase 13,57,000/-
cost of construction 13,91,691/-
A. O IS denied for cost of construction
please clarify regarding section 54 F
Nikhil Kaushik
(Expert)
16 January 2019
when you say residential property purchase - what did you exactly purchase - a plot/land or an already habitable house/floor?
16 January 2019
date of property purchase is 31.07.2012
and construction after sale of property
and construction after sale of property
Nikhil Kaushik
(Expert)
16 January 2019
I didn't ask that. I asked what was the nature of the property that you purchased.
Nikhil Kaushik
(Expert)
16 January 2019
then how do you intend to claim both? you would be eligible only for one deduction - either for cost of purchase of house property or for construction of a house property
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
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
