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 2019 Year 2019 This

LTCG - Deduction u/s. 54 - purchase of residential property - ...


Applying for a Housing Board Allotment Doesn't Qualify for Section 54 LTCG Tax Exemption; Purchase Required for Deduction.

November 7, 2019

Case Laws     Income Tax     AT

LTCG - Deduction u/s. 54 - purchase of residential property - making an application for allotment of a house with West Bengal Housing Board or any other Housing Board is not sufficient to claim exemption u/s.54

View Source

 


 

You may also like:

  1. Refund of service tax - amount have been deposited by mistake - Form 26AS, VAT-41, copies of challans and copies of running bills prepared by the Housing Board showing...

  2. The GoI notification under Section 10(46) of IT Act 1961 exempts 'Mysore Palace Board' from income tax for specified income sources, including palace property proceeds,...

  3. Deduction u/s 54 denied - LTCG - New house property was purchased in the name of son - it can be seen that the son of the assessee is a direct relation - In a case,...

  4. 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...

  5. Wealth tax assessment - the assessee cannot avail exemption for a plot of land, even if it is having an area of less than 500 sq. mts or less, if he had already claimed...

  6. Deduction u/s 54F on account of construction of house - the assessee doesn’ t have more than one house which is chargeable to tax under the head “ income from house...

  7. Exemption scheme or policy cannot be applied retrospectively. Petitioner purchased a hybrid vehicle and paid applicable tax before the exemption policy was introduced....

  8. 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...

  9. Deduction u/s. 54F - claim in respect of the additional floors added to the new house - it is not the case of the department that the claim of the assessee is for an...

  10. 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...

  11. 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...

  12. Governmental Authority or not - Rajasthan Housing Board - The Applicant is involved for the framing and execution of housing Schemes subject to the control of the State...

  13. The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

  14. 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...

  15. 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...

 

Quick Updates:Latest Updates