Dear,
whether an educational institution can make an application to the Assessing Officer for non applicability of TDS on its income from constructional building(Rent) when such institution has incurred deficiency in the intial period and which is under process of 12A registration ??
Section 54F : Sale of ANY long term asset can be invested in Residential House property, provided, assessee does not own more than one residential house property.
Answer to your query: You can sell your Land (long term) and take benefits u/s 54F.
CAclubindia
