can exemption from ltcg on transfer of a commercial house property be claimed u/s 54?
5 Replies
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 25 September 2010
Dear Sneha,
For claiming exemption u/s54, the LTCA transferred must be a residential house and its income must be chargeable under IHP. Although, income of commercial poperty comes under IHP, but still its not a residential property. Hence, exemption cannot be claimed under sec.54
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 25 September 2010
ya agree with narayanan sir................
Sunshine
(Helping All)
(10575 Points)
Replied 25 September 2010
so exemption can be claimed u/s 54 F i guess??
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 25 September 2010
Yes, exemption can be claimed u/s.54F
THANKS NARAYANAN SIR
Recent Topics
- Partnership Fimr
- GSTR 4 FOR 24-25 due date
- GSTR2B -BOOK/ RETURN ADJUSTMENT
- Camcel gst registration how it possible
- TDS form 26B
- Correction of AD Code in BOE Filed for High Seas P
- Bill to Ship to Model (head office and branch)
- SAC Code for Restaurant, and services in Hotels
- New GST Registration Applied
- TDS on GST On Purchase of Metal Scrap
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
