Sec 54f

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CA. Ronak Kapadia (Querist)
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14 March 2014 If a person constructs building on ancestral land taken before some 15-20 years can we take benefit of Sec. 54F??

Construction of building is completed well in period of 3 years however the land is ancestral property.

If anyone has judgement in support please do quote them.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 March 2014 absolutely yes..you dont have to look for any judgment...purchase/pre-ownership of land is not a criterion for claiming 54F exemption by way of construction of a new house.

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CA. Ronak Kapadia

CA. Ronak Kapadia (Querist)
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22 March 2014 Thank you for your advice ..

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 March 2014 you are welcome Ronak....

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