I purchased a residential house in the year 2011 with a home loan and proceeds from the sale of a flat i brought in 2003. I was aware that as capital gains tax is not applicable. However recently i got to know that a declaration under Form 54F was to be filed then. Can i file this declaration now. Is yes, how to go about it?
You need to file income tax return only & Claim Exemption u/s 54 in income tax return. No sepearate declaration under form 54F required. If notice send by AO,then you have to submit sale deed & purchase agreement & Loan Certificate by bank/PF/NBFC.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
