Deduction U/S 54F

Even I have one query related with Sec 54F :

 

If for the purpose of claiming deduction us 54f, I have decided to construct a new house and for that I have purchased a plot and amount related to cost of construction has been deposited in Deposit Account. Then whether I can claimed the cost of plot u/s 54F ?

Please reply soon Its Urgent



 

Replies (3)

I WANT TO KNOW THAT BY WHAT PERIOD OF TIME I HAVE TO DEPOSITE THE AMOUNT OF COST OF CONSTRUCTION IN SPECIAL ACCOUNT ?

Originally posted by : CA Jignesh Kotak

I WANT TO KNOW THAT BY WHAT PERIOD OF TIME I HAVE TO DEPOSITE THE AMOUNT OF COST OF CONSTRUCTION IN SPECIAL ACCOUNT ?

you don't have to deposit Cost of Construction...


You have to deposit that unutilized Net Sales Consideration amount on or before relevant due date of filling ROI.....

Dear Jignesh

When u have to required deduction u/s 54F then which amount is not utilized will be deposited special deposited scheme a/c within 6 month from amount received in ur hand.

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