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sec 54f

snehanjali athmakuri (46 Points)

26 June 2018

whether construction of additional floor on existing residential property can be claimed as deduction under sec 54f

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185387 Points)
Replied 26 June 2018

No. Unless it is an independent unit.

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A B Kundu (Professional) (1427 Points)
Replied 26 June 2018

Section 54F does not provide for exemption in case of renovation or modification of an existing house and what gains exemption is only construction of a new house. Hence, construction of additional floor will not be eligible to claim exemption U/s 54F.