SEC 54F

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Guest

Guest (Querist)

07 June 2009 1).KYA YE SAHI HAI KI SEC 54F KE LIYE AGAR LAND PURCHASE KARE CONSTRCTION KE LIYE TO EXEMPTION MILEGA?
AGAR HAI TO WHAT IF CONSTURCTION IS NOT DONE, IS THE EXEMPTION AMT WILL BE TAXABLE?
2).KYA YE BHI SAI HAI KI YA TO APAN CGAS ME DEPOSIT KARE YA RESIDENTIAL PROPERTY PURCHASE KARE (MATLAB KYA DOMO ME SE KEVAL 1 OPTION AVAILABLE HOGA KYA)?

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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08 June 2009 purchase as well as construction are reqired onpy land purchase is not sufficient however construction can be completed in the period allowed

both can not be claimed

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Ratan Sharma

Ratan Sharma (Expert)
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08 June 2009 54F me residential house k construction k liye exemption hai. 3 sal k bhitar construction karna hoga. Agar aapne sirf plot le kar bad me construction nahi kiya to aapko benefit nahi milega. plot ki value ka benefit bhi aapko 54F k liye milega.
Dono section ka benefit nahi milega.

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Ratan Sharma

Ratan Sharma (Expert)
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08 June 2009 Frankly speaking in my opinion deduction under both section should have been allowed. i.e. u/s. 54EC as well as under 54 F. U will certainly get the benefit of both the sections but for that there is no remeady at ITO level. U have to fight upto high court. But u will definately win if u claim deduction under both the sections.

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