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Deduction U/S 54F

Tax planning 853 views 3 replies

CA Jignesh Kotak

86 Points Posted on 06 July 2011

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)

CA Jignesh Kotak

86 Points Posted on 06 July 2011

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

Arvind Sharma

ACA

1432 Points Posted on 06 July 2011

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.....

Sagar Zankhariya

Audit Assist.

278 Points Posted on 08 July 2011

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.