Sec 54f
This query is : Resolved
CA. Ronak Kapadia
(Querist)
14 March 2014
If a person constructs building on ancestral land taken before some 15-20 years can we take benefit of Sec. 54F??
Construction of building is completed well in period of 3 years however the land is ancestral property.
If anyone has judgement in support please do quote them.
Construction of building is completed well in period of 3 years however the land is ancestral property.
If anyone has judgement in support please do quote them.
Nikhil Kaushik
(Expert)
15 March 2014
absolutely yes..you dont have to look for any judgment...purchase/pre-ownership of land is not a criterion for claiming 54F exemption by way of construction of a new house.
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CA. Ronak Kapadia
(Querist)
22 March 2014
Thank you for your advice ..
Nikhil Kaushik
(Expert)
22 March 2014
you are welcome Ronak....
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