Search results
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 25, 2024 · If the assessee buys or constructs a new house within the prescribed time limit after selling the old house property, which is a long-term capital asset, he or she can claim an exemption under Section 54.
Aug 7, 2018 · 1.) For Claiming Exemption, Assessee Should make Investment before Due Date of Filing of Return of Income. 2.) If the Assessee Fails to do so, Amount should be deposited in Capital gain Accounts Scheme before due date of return of Income to Claim the Exemption. 3.)
6 days ago · 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.
May 1, 2023 · Section 54 of Income Tax Act: Capital Gains Exemption Series. Updated: Jul 15. A Full Guide to Capital Gainds Exemptions with a Focus on Section 54.
Nov 3, 2023 · Explore Section 54 Exemption's basics, amounts, and consequences in capital gains, with detailed computations and insights on tax-saving strategies.
Jun 26, 2024 · You can plan your capital gain tax by claiming exemption as explained above under section 54 , 54EC , 54F etc. Using these section you will be able to claim exemption from capital gain tax. Quick Summary
Jul 23, 2024 · To calculate the long-term capital gains accurately, follow the steps mentioned below: Step 1: Determine the Full value of consideration. The total amount received from the transfer of capital assets.
May 9, 2024 · Section 54 of the Income Tax Act,1961 provides exemption towards Long Term Capital Gain arising on sale of Residential House Property. What does Section 54 of the Income Tax Act, 1961, say?
Jul 24, 2024 · Q11. In which assets, can the long-term capital gains be invested for roll over benefits? Ans. For roll over benefits, taxpayers can invest their gains in house under section 54 or section 54F or in certain bonds under section 54EC. For complete details of all roll over benefits, please refer section 54, 54B, 54D, 54EC 54F, 54G of the IT Act.
