Even I have one query related with Sec 54F :
If for the purpose of claiming deduction us 54f, I have decided to construct a new house and for that I have purchased a plot and amount related to cost of construction has been deposited in Deposit Account. Then whether I can claimed the cost of plot u/s 54F ?
Please reply soon Its Urgent
I WANT TO KNOW THAT BY WHAT PERIOD OF TIME I HAVE TO DEPOSITE THE AMOUNT OF COST OF CONSTRUCTION IN SPECIAL ACCOUNT ?
| Originally posted by : CA Jignesh Kotak | ||
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I WANT TO KNOW THAT BY WHAT PERIOD OF TIME I HAVE TO DEPOSITE THE AMOUNT OF COST OF CONSTRUCTION IN SPECIAL ACCOUNT ? |
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you don't have to deposit Cost of Construction...
You have to deposit that unutilized Net Sales Consideration amount on or before relevant due date of filling ROI.....
Dear Jignesh
When u have to required deduction u/s 54F then which amount is not utilized will be deposited special deposited scheme a/c within 6 month from amount received in ur hand.
CAclubindia
