Please Help: Capital Gain u/s 54
Posted Date : 02-Feb-2012 , 12:09:44 pm | Posted By: Abhinav
Category :
Income Tax | Answers :
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Comments :
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Whether exemption u/s 54 can be avalied by purchasing residential cum property |
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Answers:
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 Answer by: Mrattunjay |
| YES
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| Answer by: Rambabu Senkarasetti |
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| Answer by: Rambabu Senkarasetti |
| Yes
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| Comments |
| Posted By : Abhinav |
03-Jun-2015, 02:14:31 |
| Assessee invested residential sale proceeds in Residential cum commercial property , as Urban Improvement trust allotment letter said ground floor as commercial property and first floor is residential, whether sec 54 exemption is available in this case, AO has allowed the exemption but u/s 263 CIT has re-opened the case u/s 148, now AO u/s 148 has deleted the exemption as per direction of CIT, now case in first appeal. |
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| Posted By : CA Gaurav Kumar Agarwal |
09-Feb-2012, 02:31:59 |
| within the ambit of ur question which is incomplete. i m suggesing u that.
u can get the exemption u/s 54 for the property purchased subject to the condition that the property is residential or u are going to construct residential plot on that property within the time prescribed.
Thankls
CA Gaurav |
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| Posted By : Lavina Bajaj |
02-Feb-2012, 03:52:35 |
| hello abhinav the details furnished by you are incomplete to suggest u on the same.. kindly furnish complete details.. |
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