Sec 50 c and sec 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2015
one of my client sold property in 2012 for Rs.3.5 Lakh whose stamp duty value is Rs. 10.5 lakh.we did not taken deduction in AY 2012-13 return U/S 54 due to our mistake.
now the scrutiny notice issued by departmnet for same A.Y.
now department will take Stamp duty value as a Sale Value consideration of Rs.10.5 lakh
my querry is can we take deduction U/s 54 now against such value as we originaly forget to claim deduction in A.Y 12-13, of one property purchased in that year only but forget to claim deduction.
pls reaply
now the scrutiny notice issued by departmnet for same A.Y.
now department will take Stamp duty value as a Sale Value consideration of Rs.10.5 lakh
my querry is can we take deduction U/s 54 now against such value as we originaly forget to claim deduction in A.Y 12-13, of one property purchased in that year only but forget to claim deduction.
pls reaply
09 December 2015
Yes, rule of harmonious construction permits you to claim section 54.
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