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54f exemption

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09 January 2016 landlord gave site for development and taking four flats as consideration.whether d value of four flats has to be taken as investment under sec 54 f or value of one flat
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
09 January 2016 Only one residential house can be purchased U/s 54F.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
09 January 2016 Refer case laws K.G. Rukminiamma case or D. Anand Bassappa case both Karnataka High Court.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 February 2016 As per new provisions of income tax only one house is eligible for deduction .

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