Exemption U/s 54F
This query is : Resolved
16 July 2009
Is exemption U/s 54F allowed if additional floor is constructed on old property ?
16 July 2009
Dear bharat,
pleae be noted that As per the case law of PV Narasimhan(181 ITR 101(SC) "Construction of the first floor in the exsisting buliding should be treated as independent residentail unit entitled for excemption U/s 54 and 54F".
pleae be noted that As per the case law of PV Narasimhan(181 ITR 101(SC) "Construction of the first floor in the exsisting buliding should be treated as independent residentail unit entitled for excemption U/s 54 and 54F".
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