Menu
54f(1) places one year restriction whereas 54f(2) 2 years LTCG
Pl clarify basic differences between 54f(1) and 54f(2) LTCG
Replies (1)
1. In first case it is the denial of applicability of the section, where as in second case it is the reversal of the deduction claimed.
2. Tax liability in first case is in the same year of sale of original asset. While for second case the tax liability arises when the new HP is purchased/constructed.
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
