Reconstruction or built second flour to avoid capital gain
This query is : Resolved
25 August 2016
CAN WE AVOID CAPITAL GAIN TAX WITH RECONSTRUCTION OR BUILT SECOND FLOUR OF EXISISTING SELF OCCUPIED RESIDENTIAL HOUSE PROPERTY U/S 54F
25 August 2016
Dear Monika,
Section 54F does not provide for exemption on investment in renovation or modification of an existing house.
On the other hand, construction of a house only qualifies for exemption on the investment.
Even addition of a floor of a self contained type to the existing house would have qualified for exemption.
Hope your query is resolved
Kindly like if my response has helped you
Section 54F does not provide for exemption on investment in renovation or modification of an existing house.
On the other hand, construction of a house only qualifies for exemption on the investment.
Even addition of a floor of a self contained type to the existing house would have qualified for exemption.
Hope your query is resolved
Kindly like if my response has helped you
25 August 2016
ok thanks
is there compulsory any proof of built of 2nd flour to availed benefit of section 54F
is there compulsory any proof of built of 2nd flour to availed benefit of section 54F
Message likes :
1 times
25 August 2016
Dear Monika,
Yes AO can ask for it.
Kindly like if my response has helped you
Yes AO can ask for it.
Kindly like if my response has helped you
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- GST Regis.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
