Search results
Jun 26, 2018 · 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.
4 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.
The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.
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 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.)
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.
Feb 2, 2024 · Section 54 of the Income Tax Act is a special exemption offered on capital gain tax. Under this exemption, individuals and HUFs (Hindu undivided families) can claim exemptions from capital gains while selling their property if they wish to purchase or construct another residential property using the selling amount.
