Hello All,
After searching a lot across the google I came here with very basic query regarding what to Fill in Schedule CG 54F deduction table because every talks about 54F but no one show how to fill Details.
1) I sold lot of my stocks at different months. Like 6 were sold on July 2022, some 15 were sold on Aug 2022 and so on. In total there were 9 Transcations on different dates. The Last one was on 22nd March 2023 will all totalling 29.5 Lakh.
2) I bought a land in June 2022 and then started construction on Nov 2022 and finished it 15th March 2023. My land was registered for 14 Lakh, Registration cost was around 90K, and construction cost was around 16.5 Lakh. So In total house costed around 30.5 Lakh which is more than my asset sold value. I know I am eligible for 54F claim but I am confused with 5 columns in table.
Questions
1) if we talk about "date of transfer of original asset" what I understood is its the stock sale date. So does it means we need to add 9 entries in 54F table?
2) House land bought and House construction are at 2 different event so does the cost of new residential House should be total of both Land+construction?
3) If Answer of 2 is Yes, then what should be the added in Date of Purchase/Construction of new house? The Land bought date or the construction end date?
4) If Answer of 2 is no, then should we divide the 9 entries and at some places add land cost and another construction cost and accordingly add dates?
5) For construction the start date is considered or end date?
CAclubindia
