Sec 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2017
ASSEESEE WANT TO SALE PLOT (LONG TERM) AND WANT TO BUY A RESIDENTIAL HOUSE.
ASSEESEE HAVING ALREADY A RESIDENTIAL HOUSE AND WANT TO BUY ANOTHER RESIDENTIAL HOUSE.
WHETHER ASSEESEE CAN CLAIM EXEMPTION UNDER SECTION 54F OR NOT ????????
ASSEESEE HAVING ALREADY A RESIDENTIAL HOUSE AND WANT TO BUY ANOTHER RESIDENTIAL HOUSE.
WHETHER ASSEESEE CAN CLAIM EXEMPTION UNDER SECTION 54F OR NOT ????????
21 April 2017
Yes he can get exemption if he invests entire sale consideration in construction of new house. ALso construction must complete within 3 years of transfer of old asset i.e. plot.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 April 2017
ASSEESEE HAVING ALREADY A RESIDENTIAL HOUSE IN HIS NAME.
NOW CAN WE CLAIM EXEMPTION UNDER SECTION 54F OF INCOME TAX ACT 1961.
NOW CAN WE CLAIM EXEMPTION UNDER SECTION 54F OF INCOME TAX ACT 1961.
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