LTCG - Exemption u/s 54 and 54F - Imposing the restriction on ...

Notes Income Tax

February 3, 2023

LTCG - Exemption u/s 54 and 54F - Imposing the restriction on claiming high value deduction taken by high-net-worth assessees - Maximum deduction can be claimed upto 10 crore of capital gain u/s 54 or cost of new asset u/s 54F as the case the may be.

View Source

← Previous Next →

LTCG - Exemption u/s 54 and 54F - Imposing the restriction on ...

Notes Income Tax

February 3, 2023

You may also like:

Capital gain - LTCG - investment in the new residential house - the assessee has claimed deduction u/s 54 and not under section 54F of the Act. Thus, the conditions and...

LTCG - Deduction u/s 54 - investment was made in the name of her spouse and not in the name of the Assessee - Section 54F/54 of the Act are the beneficial provisions...

Eligibility of deduction u/s 54 and 54F - in return deduction claimed u/s 54F - in assessment proceedings revised his claim u/s 54 - AO is duty bound to allow deduction...

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...

Deduction u/s 54, 54F & 54EC - capital gains arising out of a single transaction of sale of immovable property - there is no such bar that both the deductions, u/s 54...

Deduction claimed u/s 54F OR 54 - Investment of LTCG - Owning more than one house property - CIT(A) deleted the addition considering the same u/s 54 - Assessee revised...

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...

LTCG - Deduction u/s 54F - The physical structuring of the new residential house, whether it is lateral or vertical, cannot come in the way of considering the building...

Deduction u/s 54/54F - assessee has not acquired the ownership rights in the new property but merely acquired tenancy right which could not be equated with ownership...

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...

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

Deduction / exemption u/s 54 or 54F - recognition of partition of HUF - conditions regarding transfer of capital asset by an Individual or a HUF - AT

Exemption u/s 54 - LTCG - Merely because assessee had availed house building loan from bank for purchasing a new residential unit, that cannot act as a disqualification...

Deduction / Exemption u/s 54 - LTCG - expenditure incurred on interiors of new residential house property - The appellant's argument centered on the genuineness of these...

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...

Quick Updates: