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 June 2015 Year 2015 This

Deduction u/s. 54F - construction of residential property - ...


Section 54F: Tax Deduction Valid Even if Property Construction Incomplete, No Need for Occupation or Registration.

June 23, 2015

Case Laws     Income Tax     AT

Deduction u/s. 54F - construction of residential property - payment made to builder - construction was not complete in respect - No condition that it should be occupied within the stipulated period - there is no requirement regarding registration and valid title, as a condition for availing exemption u/s. 54F(1) - AT

View Source

 


 

You may also like:

  1. Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

  2. 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...

  3. This is a summary of a legal case involving deduction u/s 54F of the Income Tax Act for investment in residential property. The key points are: The assessee invested...

  4. Deduction u/s 54F is not available to an assessee who owns more than one house property at the time of purchasing a new property. The assessee, despite jointly...

  5. Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

  6. The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

  7. LTCG - Deduction u/s 54F - assessee is eligible for deduction u/s 54F even if the construction is commenced before transfer of the capital asset and completed the...

  8. 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,...

  9. 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...

  10. Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

  11. Input Tax Credit - input services - the applicant is engaged in development of port based smart city i.e. Smart Industrial Port City (SIPC) within...

  12. Allowance of the claim of exemption under Section 54F of the Act – the deduction under Section 54F is allowable even the funds were taken on loan - AT

  13. Deduction u/s. 54F - assessee has not become the owner of the property in question - becoming the owner of the property in question is not required for the purpose of...

  14. 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...

  15. Disallowance of exemption claimed u/s 54F - nature of the property as residential in nature - It does not make difference whether the property has been shown as...

 

Quick Updates:Latest Updates