Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Deduction u/s 54F on account of construction of house - the ...

Income Tax

May 18, 2020

Deduction u/s 54F on account of construction of house - the assessee doesn’ t have more than one house which is chargeable to tax under the head “ income from house property” other than the one residential house owned on the date of sale of original asset - No addition is warranted.

View Source

 


 

You may also like:

  1. Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

  2. Deduction u/s. 54F - claim in respect of the additional floors added to the new house - it is not the case of the department that the claim of the assessee is for an...

  3. LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the...

  4. LTCG - Deduction u/s 54F - whether the assessee herein has actually constructed any residential house within the meaning, object and time laid down u/s. 54F of the Act,...

  5. Deduction u/s 54F - delay in delivery of possession of the property - investment of the entire capital gains for construction of a residential house within the...

  6. Deduction u/s 54F - LTCG - quantum of investment to be made in the New House Property - Actual consideration or Value or transferred property determined as per Section...

  7. Deduction u/s 54F - dis-allowance on the ground that the construction of house was not completed within the stipulated period - once the assessee has produced the...

  8. Deduction u/s 54F - assessee purchased two properties - the requirement of the proviso is that if the assessee purchases any residential house other than the new asset...

  9. LTCG - Rejection of deduction claimed u/s 54F - Deduction u/s 54F of the Act only induces an assessee to make investment in residential house property. If the assessee...

  10. Deduction u/s 54F - assessee is having more than one house - for all practical purposes, the assessee is the owner of the said houses, and therefore, is not entitled to...

  11. Denial of deduction u/s 54F - allegation of investment in more than one house by assessee - The conclusion of Ld. AO overlooks the fact that the multi-storied building...

  12. Deduction u/s 54F of the Income Tax Act – construction of new house property / flat - since the construction took place prior to the date of transfer, Assessee is not...

  13. Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

  14. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

  15. LTCG - Exemption u/s 54F - As seen that both the plots, namely, 28 and 29 were simultaneously purchased and are adjacent to each other. The assessee has claimed that...

 

Quick Updates:Latest Updates