Section 54F
This query is : Resolved
09 January 2011
if one sells his shop (long term) and purchase a house property then will he be allowed exemption under section 54F. on the date of transfer he is owning only one residential house property.
Guest
Guest
(Expert)
10 January 2011
He will be allowed exemption under section 54F if he is owning only one residential house property as on the date of transfer.
12 January 2011
no shop is not residential property..
Guest
Guest
(Expert)
13 January 2011
It does not make any difference if the assets so sold is a shop .
13 January 2011
Yes residential house is allowed 54F applies to capital gains on transfer of any asset other than a residential house. \
Guest
Guest
(Expert)
13 January 2011
Is there any more query?
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
- About TDS & Income Tax
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Building tax payment deduction in rental Income
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
