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 Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
