Section 54 of income tax, 1961
This query is : Resolved
08 August 2013
Exemption under section 54 is available whether sale deed is not register.
08 August 2013
IN CASE OF SECTION TWO RESIDENTIAL PROPERTIES ARE INVOLVED. SALE DEED IS THE DOCUMENT THROUGH WHICH ORIGINAL ASSET OR OLD HOUSE IS SOLD BY THE ASSESSEE.
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HOWEVER, IF YOUR QUERY IS ABOUT THE PURCHASE DEED OF NEWLY PURCHASED HOUSE- REGISTRATION IS NOT COMPULSORY FOR SECTION 54, BUT FOR ALL OTHER
PURPOSES REGISTRATION WILL BE REQUIRED.
.
.
HOWEVER, IF YOUR QUERY IS ABOUT THE PURCHASE DEED OF NEWLY PURCHASED HOUSE- REGISTRATION IS NOT COMPULSORY FOR SECTION 54, BUT FOR ALL OTHER
PURPOSES REGISTRATION WILL BE REQUIRED.
.
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