hi suppose an individual has sold his residential property and wants to invest the proceed in construction of residential property. what is the time limit to claim the deduction and should he keep the proceeds in separate bank account or can he just make term fixed deposits and use the fund as and when needed.
please clarify
thanks
shashi kiran
Menu
Section 54 for construction
Replies (1)
- THREE years from the sale of the residential property.
- Should be deposited to CGAS, 1988 acc.
Recent Topics :
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
Related Topics :
CAclubindia
