Eligibility to claim of deduction u/s 5F - even though the ...

Deduction u/s 54F Allowed for Property Registered in Assessee's Wife and Daughter-in-Law's Names.

January 18, 2017

Case Laws Income Tax AT

Eligibility to claim of deduction u/s 5F - even though the property was registered in the name of assessee’s wife and daughter in law the deduction as claimed by the assessee u/s 54F is to be allowed. - AT

View Source

← Previous Next →

Eligibility to claim of deduction u/s 5F - even though the ...

Deduction u/s 54F Allowed for Property Registered in Assessee's Wife and Daughter-in-Law's Names.

January 18, 2017

Case Laws Income Tax AT

You may also like:

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...

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...

The ITAT held that the assessee's claim for deduction u/s 54F of the Act should have been granted, even though the residential property was purchased in the name of the...

Exemption/deduction u/s 54F - New investment made in wife's name. Sec.54F allows purchase/construction within specified timelines. No requirement for same sale proceeds...

Deduction claimed u/s. 54 - LTCG - In the present case, the assessee has purchased property in the name of married daughter, although she was divorced, but she is an...

Deduction claimed u/s 54 - LTCG - since the purchase of new property/flat is in the name of assessee’s wife and adult daughter and not in assessee’s own name, the...

Legal interpretation of the term "original asset" for claiming exemption u/s 54F of the Income Tax Act. It discusses the ownership rights over the "original asset" by...

Clubbing of income - Rent received by the assessee whereas service charges received by wife and daughter of the assessee in relation to same property - There is no...

Deduction u/s 54 - property sold was in the sole name of the assessee and the property purchased was in the joint names of the assessee and his wife - the consideration...

Applicability of Section 64(1) and Section 54F of the Income Tax Act. Section 64(1) allows for the inclusion of a dependent spouse's income in the assessee's taxable...

Exemption u/s 54F - investment of new residential house in the name of assessee wife - claim of deduction U/s 54F of the Act cannot be denied merely on the ground that...

The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI...

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...

The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in...

Deduction u/s 54F - house purchased in the name of his wife - The entire purchase consideration was paid only by the assessee and not a single penny was contributed by...

Quick Updates: