Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Exemption u/s 54F - LTCG - three flats - while the flats at 13th ...

Income Tax

November 15, 2018

Exemption u/s 54F - LTCG - three flats - while the flats at 13th & 14th Floor are duplex flats joined with each other but the fact remains the third flat is situated on the immediate next floor i.e. 15th floor of the same building which is in the immediate vicinity - Benefit of exemption allowed.

View Source

 


 

You may also like:

  1. Exemption u/s 54F - merging of 4 flats originally planed into one unit - exemption allowed - AT

  2. 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...

  3. Computation of annual value - The three flats which could not be sold at the end of the year was shown as stock-in-trade. Estimating rental income by the AO for these...

  4. Exemption under section 54F - it is sufficient for the assessee to utilize the capital gains for the purchase of a flat before the extended due date under section 139(4) - AT

  5. Deduction/ Exemption of LTCG u/s 54F - use of ground floor as commercial purpose and other three floor for residential purpose - CIT(A) has rightly apportioned...

  6. Undisclosed receipt on sale of flats/space - Sale of flats of VT [Vatika Triangle] - The burden shifted to the Revenue to show, on the basis of some reliable and...

  7. Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

  8. LTCG - Exemption u/s 54F - assessee has purchased triplex flat - The Assessing Officer rejected the claim, arguing that the purchase did not qualify as a single...

  9. Taxability of profits arising on sale of three flats through execution of sale deeds - proportionate cost of construction for three flats out of total eight flats comes...

  10. When a house is completed after expiry of three years from the transfer of the original asset, the assessee is entitled to exemption under section 54F - AT

 

Quick Updates:Latest Updates