Search results
Jul 4, 2024 · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in purchase or construction of residential property.
Income-tax Act, 1961. 925 Record (s) | Page [1 of 93] Compare Act/ SectionNEW. Choose Acts: as amended by Finance Act.
Apr 3, 2024 · Sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA offer various benefits to individuals and entities. This article delves into the specifics of each section, including eligible assets, time limits for acquisition, exemption amounts, lock-in periods, and applicable deposit schemes.
Jul 12, 2024 · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential house property can claim exemption from such capital gains if they invest the proceeds in the acquisition, i.e., purchase or construction, of another residential property.
Apr 6, 2022 · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential house property can claim exemption from such capital gains if they invest the proceeds in acquisition i.e., purchase or construction of another residential property.
Nov 3, 2023 · The Section 54 Exemption under the Income Tax Act, 1961, offers a valuable opportunity for individuals to save on capital gains when transferring residential property.
Aug 26, 2018 · Article Explains Exemption / Deduction under Section 54, Section 54EC & Section 54F of Income Tax Act, 1961 with FAQs and Case Laws.
May 11, 2024 · Section 54 of the Income Tax Act, 1961, is a provision that provides relief to taxpayers on the capital gains earned from the sale of a residential property. It allows individuals to reinvest the proceeds from the sale of a house into another residential property to avail tax benefits.
What Is Section 54 of the Income Tax Act? The process of selling or transferring a capital asset like property comes with taxable capital gains. However, the Government makes it easier for the citizens under Section 54 of the Income Tax Act.
Mar 4, 2020 · Section 54 of the Income Tax Act provides the seller of a residential property with relief from capital gains tax. The section allows taxpayers to obtain relief from capital gains tax only if the proceeds from the sale are used to acquire another residential property.
