Section 54 deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2011
For availing benefit u/s 54 of IT Act, can we make payment against personal loan taken for payment of Stamp Duty?
25 September 2011
No,
For availing Deduction U/s 54, you have to make payment to acquire or construct new house property within tenure specified under Sec 54. The said exemption available only if the said property acquire from the money got from selling of old house property and said proof needs to be submitted to AO on demand at the time of Assessment.
Regards,
Nishad
No,
For availing Deduction U/s 54, you have to make payment to acquire or construct new house property within tenure specified under Sec 54. The said exemption available only if the said property acquire from the money got from selling of old house property and said proof needs to be submitted to AO on demand at the time of Assessment.
Regards,
Nishad
25 September 2011
Agree With Expert.
There is No Question of Personal Loan Arise in Sec 54
There is No Question of Personal Loan Arise in Sec 54
26 September 2011
I agree with the experts and no additional view is required
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