Sec 54 deductions
This query is : Resolved
09 February 2013
A PERSON HAS PLOT , HE WANT TO SELL A PART OF HIS PLOT AND WANT TO USE CONSIDERATION FOR CONSTRUCTION OF ROOM IN WHICH HE IS CURRENTLY STAYING?
HOW TAX PLANNING WILL BE DONE?
IF HE USE CONSIDERATION RECEIVED FOR CONSTRUCTION OF HOUSE ON REMAINING PART OF PLOT THEN..
HOW TAX PLANNING WILL BE DONE?
IF HE USE CONSIDERATION RECEIVED FOR CONSTRUCTION OF HOUSE ON REMAINING PART OF PLOT THEN..
09 February 2013
According to sec.54F, you can planning for your tax liability by investing the capital gain amount in newly constructed house.
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