N.Mohana krishna (Student) (42 Points)
24 March 2014Each of my parents got (RS--6 &- 8 lakhs) as compensation on account compulsory acq of land (LTGS), i like to claim U/S 54 F ,my doubt is:
- whether both can invest their sum jointly in single house property(not Land).----(incase of purchase).
- whether they can puchase small site from half of this amount and remaining amount for construction on purchased site.(Eg : 5 lac for site and 9 lac for constuction on same site which purchased)
Thankig in advance
krishna
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 06 April 2014
they can claim benefit u/s 54 F even if they purchased a joint property or purchase plot of land and there after construct a house on that plot
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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