I want to claim exemption u/s 54, I have sold a residential plot in F.y. 2017-18 (may'17), the residential property against which I want to claim deduction, whose registry will be done in nov'17, although I had made 3 installment payment in 2013, 2015 and 2017, but it's registry will be done in November'17. Can I claim deduction on the basis of registry date, as it is after sale of residential plot, on which LTCG arises.
Pls guide.
Menu
Deduction u/s 54 of income tax act
Replies (1)
No you can not claim exemption u/s 54... As purhase should be maximum one year previous.... What is to be seen is purchase date and not registry date.
Recent Threads
- Section 194T – TDS on Payments to Partners:
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
Related Threads
CAclubindia
