An claim section 54F and 54EC same year

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20 Points Posted on 29 June 2020
Can claim section 54F and 54EC same year.

Example sale value 1cr and investment 54F 50L AND 54EC 50L IS IT POSSIBLE??
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On 29 June 2020 at 19:24 Report
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Quick Summary
This discussion explores the possibility of claiming Income Tax deductions under both Section 54F and Section 54EC in the same financial year. While the sections are distinct, a favourable Mumbai Tribunal judgement suggests it may be permissible, provided all conditions for each section are met. The query clarifies that this pertains to Income Tax, not GST.

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Profession
22 Points Posted on 29 June 2020
Explain more vividly...
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On 29 June 2020 at 19:33
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20 Points Posted on 29 June 2020
It is under GST or INCOME TAX
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On 29 June 2020 at 20:05
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20 Points Posted on 29 June 2020
I have one hotel sale price 1 crore , no any residential house property I want to claim deduction under section 54F 50lakh and rest 50lakh in section 54EC
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On 29 June 2020 at 20:17
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Chartered Accountant
20 Points Posted on 29 June 2020
@ krisshnan kp - it is obviously income tax

@ pratap mandal - there is a favourable Mumbai Tribunal judgement which has allowed the claim of sec 54F and 54EC simultaneously

You jus need to satisfy all the conditions mentioned in the section
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On 29 June 2020 at 20:20
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20 Points Posted on 29 June 2020
Ok thanks
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On 29 June 2020 at 21:24
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20 Points Posted on 29 June 2020
Thanks sir
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On 29 June 2020 at 21:32
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20 Points Posted on 29 June 2020
Your most welcome
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On 29 June 2020 at 21:51
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Profession
22 Points Posted on 30 June 2020
Sec 54 F IS A SEPERATE SECTION AND 54EEC IS A DIFFERENT ONE.
MUMBAI TRIBUNAL JUDGEMENT DOES NOT FALLS INTO THIS.
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On 30 June 2020 at 23:13

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