Deduction under section 54
Sanjeev Arora (Self Employed) (31 Points)
20 March 2012Sanjeev Arora (Self Employed) (31 Points)
20 March 2012
bcshettyco
(Chartered Accountant In Practice)
(65 Points)
Replied 20 March 2012
Section 54 is applicable as it is transfer of residential property. The period of 3years begins from the date of completion of construction of the house property, possession of the house property is not the criteria.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India