LTCG - Benefit of exemption u/s 54F - Purchase of second ...

Income Tax

May 25, 2023

LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the property at USA is a Farm House cannot be accepted. Since the assessee owned one more residential house at the time of transfer of original asset, the assessee is not entitled to claim the benefit of deduction u/s. 54F in respect of long term capital gains - AT

View Source

← Previous Next →

LTCG - Benefit of exemption u/s 54F - Purchase of second ...

Income Tax

May 25, 2023

You may also like:

Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

LTCG - Exemption u/s 54F - As seen that both the plots, namely, 28 and 29 were simultaneously purchased and are adjacent to each other. The assessee has claimed that...

Eligibility of section 54F benefit - whether benefit will not be available if the residential house is purchased or constructed by the assessee outside India? - benefit...

LTCG - Denial of exemption u/s 54 - the ITAT observed that, for the purpose of claiming the benefit u/s 54 of the Act, within a period of one year before or two year...

Denial of exemption u/s 54F - interpreting the meaning of the word residential house used in Section 54F(1) - assessee even otherwise is entitled to the benefit of...

Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

Entitlement to exemption u/s 54F - amount is not directly invested in purchasing of the villa - deposit of money by the assessee inter-alia in mutual fund prior to...

LTCG - Deduction u/s 54 - Profit on sale of property used for residence - assessee was already in the possession of the residential house at the time of purchase of the...

LTCG - Entitlement for benefit u/s 54F - If one has invested the amount received on sale of capital asset either in purchasing a residential house or in construction of...

Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

Exemption u/s 54 - assessee has invested in three residential house properties at three different places - scope of amendment - whether exemption is available in respect...

LTCG - Purchase of agriculture land – benefit of section 54F of the Act – There is no prohibition regarding construction of a residential house on agriculture land - AT

LTCG - Deduction u/s 54F - whether the assessee herein has actually constructed any residential house within the meaning, object and time laid down u/s. 54F of the Act,...

Quick Updates: