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TMI Blogdate of acquistion of under contruction propertyX X X X Extracts X X X X X X X X Extracts X X X X ..... One of my relatives has sold a land and is planning to purchase a under construction house to claim deduction u/s 54F . The agreement for the new house would be executed immediately and 100 percent p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayment would be done upfront. I have following queries related to the same: 1) In case if the person is already holding 2 properties, then is it feasible to sell one of the house and claim deductio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n under section 54 and 54 F simultaneously.(This is to be done as there is condition to claim deduction u/s 54F that the person should hold not more than one property on the date of claiming deduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion u/s 54F) 2) If the person decides to sell the new house after 3 years, then would the date of acquisition be date of agreement of new house or date of possession. 3) in case if the builder ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fails to give possession within 3 years from the date of original transfer of plot, then would the capital gain deduction claimed under section 54 F be added back - Reply By MARIAPPAN GOVINDARAJAN - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = Whether you have got clarified in the above issue? If not please inform. - date of acquistion of under contruction property - Query Started By: - jatin Gandhi Dated:- 26-11-2014 Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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