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6 days ago · Section 54 v/s Section 54F Earning income automatically casts a responsibility on the taxpayers to discharge income tax on such income and so is the case with capital gains too. However, the income tax laws allow taxpayers to claim certain exemptions against capital gains, which will help reduce their tax outgo.
Apr 3, 2024 · Learn how to avail exemptions on capital gains under sections 54, 54B, 54D, 54EC, 54F, 54G and 54GA of the Income Tax Act. Compare the eligibility criteria, time limits, exemption amounts, lock-in periods and deposit schemes for different asset types and scenarios.
Aug 7, 2018 · Learn about the exemptions and conditions for capital gains under Section 54 and its variants for different types of assets and situations. Compare the eligibility, amount, period and consequences of exemption for each section.
S. No.BasisSection 54ecSection 54f1.)AllowabilityExemption is Allowed provided the ...Exemption is Allowed provided the ...2.)Allowed ToAll AssesseesIndividual/ HUF3.)Conditions to be Satisfieda.) The Assessee Should have Invested the ...a.) The Assessee Should have purchased ...3.)Conditions to be Satisfiedb.) The Assesee is not allowed to Convert ...b.) The Assesee Should either Purchase or ...Aug 9, 2024 · Learn how to claim tax exemption on long-term capital gains from selling a residential property and buying another one under Section 54 of the Income Tax Act. Find out the eligibility criteria, conditions, and latest amendments for this section.
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Nov 3, 2023 · Learn how to save tax on capital gains when selling and buying a residential house in India. Find out the basic conditions, amount of exemption, computation method, and consequences of section 54 under the Income Tax Act, 1961.
May 9, 2024 · Learn how to claim tax exemption on long term capital gain from sale of residential house property by investing in another residential house property in India. Find out the conditions, limits, and consequences of section 54 of the Income Tax Act, 1961 and the impact of Finance Act 2023.
Feb 2, 2024 · Learn how to claim tax exemption on capital gain from selling a residential property in India if you buy or build another residential property within two years. Find out the eligibility, conditions, and latest changes under Section 54 of the Income Tax Act.