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Deduction u/s 54 in case of belated return
Assessee had sold residential flat in Oct 2010 and purchased new residential flat in March 2011, but filed his return after due date, now whether he was allowed to take deduction of Section 54 or not.
Replies (3)
Why the query now? Whether the deduction denied for late filling?
Yes. You can avail the deduction u/s 54 even in case you have filed the return after due date.
There is no provison which states that for claiming deduction u/s 54 you have to file your return within the due date as specified for claiming house property loss.
So, my question is whether you have been denied for claiming deduction by authorities?
So, my question is whether you have been denied for claiming deduction by authorities?
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