54b applicability
This query is : Resolved
24 December 2011
Whether Section 54B is applicable to Corporate assessee.
Mean to say 54B exemption available to Private Limited Company
Mean to say 54B exemption available to Private Limited Company
24 December 2011
No as 54B applies to individual only as act defines assessee and his parents.
Only individual can have parents not a company assessee or huf.
Only individual can have parents not a company assessee or huf.
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