If the assessee invests the entire consideration in construction ...

Investing full sale proceeds in a new home within 3 years qualifies for Section 54F deduction, no capital gain account needed.

November 22, 2018

Case Laws Income Tax AT

If the assessee invests the entire consideration in construction of the residential house within three years from the date of transfer he cannot be denied deduction u/s 54F of the Act on the ground that he did not deposit the said amount in capital gain account scheme before the due date prescribed u/s 139(1) of the Act.

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If the assessee invests the entire consideration in construction ...

Investing full sale proceeds in a new home within 3 years qualifies for Section 54F deduction, no capital gain account needed.

November 22, 2018

Case Laws Income Tax AT

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