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Deduction u/s 54 in case of belated return

Tax queries 409 views 3 replies
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Student
25 Points Posted on 20 August 2016
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.
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On 20 August 2016 at 14:12 Report
Replies (3)
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SEO Sai Gr. Hosp.
211624 Points Posted on 20 August 2016

Why the query now? Whether the deduction denied for late filling?

581 Reply
On 20 August 2016 at 14:28
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proprietor
425 Points Posted on 20 August 2016

Yes. You can avail the deduction u/s 54 even in case you have filed the return after due date.

1 Reply
On 20 August 2016 at 14:32
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Chartered Accountant
2229 Points Posted on 21 August 2016
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?
13 Reply
On 21 August 2016 at 10:35


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