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 2020 Year 2020 This

Exemption u/s 54F - Assessment Year in which the amount is ...


Section 54F: Tax Exemption for Capital Gains Ends if No House is Built Within Three Years of Asset Transfer.

June 10, 2020

Case Laws     Income Tax     AT

Exemption u/s 54F - Assessment Year in which the amount is taxable where the assessee had not constructed the house property within the period of 3 years - it will be charged to capital gain in the year in which the period of 3 years from the date of transfer of the original asset expires.

View Source

 


 

You may also like:

  1. Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

  2. Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

  3. Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

  4. Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

  5. Exemption u/s 54F(1) - The three parts/limbs cannot be intermingled to deny the benefit of 54F(1) to the assessee. The third part/ limb being applicable to the facts of...

  6. Deduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out whether there is any profit or gain chargeable to tax u/s 45(1), the...

  7. LTCG - Denial of exemption u/s 54 - the ITAT observed that, for the purpose of claiming the benefit u/s 54 of the Act, within a period of one year before or two year...

  8. Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

  9. Deduction u/s 54F - Capital gain arising from depreciable assets is long term capital gain for the purpose of claiming exemption under Section 54F/54E of the

  10. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  11. Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...

  12. 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...

  13. LTCG - eligibility or claim of exemption of u/s. 54F - As per AO new asset cannot be considered as acquired within 02 years of transfer of original asset - Since the...

  14. Capital gain - period of limitation for deposit the amount in Capital Gain Account Scheme - Sub-Section (4) of Section 139 provides extended period of limitation as an...

  15. Long-term capital gain exemption u/s 54F denied - appellant utilized entire sale consideration for residential house construction before return filing - failed to...

 

Quick Updates:Latest Updates