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Exemption u/s 54/54f

Tax queries 454 views 3 replies

whether exemption u/s 54/54f can be claimed, if y purchased a Plot of Land but can't make construction

 

Replies (3)

No he cant claim exemption he has to compulsory construct the house then only he can claim exemption

U can purchase land along with small shed or house for residential purpose u can eligible for this section.... In sale deed just includes word along with house..

To claim exemption u/s 54 / 54F, one should buy or construct a house,  wherein the cost of land on which house has been constructed should be taken along with the cost of house to claim such exemption. Hence buying a plot of land cant be claimed as exemption .


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