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Intimation u/s 54f

chirag shetty (Article assistant) (56 Points)

04 March 2020

i have received intimation and in that intimation deduction u/s 54f is not considered as considered in my original return

i have shown let-out house property of new asset..

what can be the reason of non consideration pls advice..

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12 Replies

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 05 March 2020

Might be processing error.Revise or rectify ASAP

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chirag shetty (Article assistant) (56 Points)
Replied 05 March 2020

Whether to revise or rectify???

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 06 March 2020

You have the option to revise till 31st March.

So try for revision

chirag shetty (Article assistant) (56 Points)
Replied 06 March 2020

But revision is made if there is inaccurate , incorrect information disclosed by assessee I have correctly disclosed all things

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 07 March 2020

TAN No is inaccurate only.Wrong TAN leads to wrong ITR.

At present go by revised ITR- with correct TAN no.

After 31st ,you will loose the option of revised return..

Rectification can be done in your case even after 31st march..

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chirag shetty (Article assistant) (56 Points)
Replied 07 March 2020

But there is no case of wrong tan. in my return

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 07 March 2020

I think by oversight posted reply to another query in forum..

You may ignore above...

When did you buy the letout property shown as deduction under section 54F??

chirag shetty (Article assistant) (56 Points)
Replied 07 March 2020

Sept 2018

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 08 March 2020

Was it within one before from the date of transfer??

Else it might be reason??

Another reason might be the deduction is applicable to long term capital gain only