Claim Rejected by CPC u/s 54
This query is : Resolved
24 March 2025
Me and my wife have purchased land on 17.09.12 by Rs. 23.32 lacs and 23.17 lacs seperately and sold it by Rs. 55.88 lacs & 54.57 lacs on 23.12.2021. By the amount of Capital Gain we have Purchased a Residential property Jointly in the name of my wife and myself amounting Rs. 68.24 lacs and claim exemption u/s 54. But in the assessment CPC Bangalore rejected the claim u/s 54 without any reason and issued demand notice to both of us. Would u pls suggest , what should I do now ??
25 March 2025
Unless exact reason known for the rejection of claim, proper answer cannot be obtained. You may request for reprocessing the ITR. Or if your claim is genuine. you can file appeal.
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
- About Electronic Credit Reversal and Re-claimed Statement.
- Exemption u/s 10(23C)(iiiad) Schools
- ITC not taken in GSTR3B
- Updated return e verify. EVC
- Household goods
- TDS deduction on property purchase
- Tax calculation on shares
- Eway Bill responsibility
- Exemption not allowed by CPC
- How interest income in USA is taxed in india
- Apportionment credit
- ROC Forms required to be filed by private limited company after becoming holding company.
- Telecom e recharge mobile prepaid dealer itc can claim on net purchase talktime
- E invoice pending but bill uploaded in GSTR1
- Under which head pass to entry
- Applicable TDS:- Payment for Partnership and alliance business services.194J v/s 194H
- TDS under section 195.
- Transfer of partners own share/capital contribution to his son by appointment
- GSTR2A and GSTR3B difference ITC ineligible how to return
- Ineligible ITC reversed but reflected in ITC reclaim ledger - how to rectify
Trending Online Classes
CAclubindia
