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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.
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.
2 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.
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. This comprehensive guide provides insights into the basic conditions for eligibility, the amount of exemption available, and the potential consequences if the new house is ...
Determination of tax where total income includes income on which no tax is payable. Section - 115VF. Tonnage income. Section - 14A. Expenditure incurred in relation to income not includible in total income. Section - 115BBI. Specified income of certain institutions. Section - 4. Charge of income -tax.
Dec 18, 2022 · Explore the nuances of Section 54 of the Income Tax Act, 1961, including amendments from the Finance Act, 2019. Learn how the provision allows claiming deductions for investing in residential houses, with insights into recent rulings clarifying the eligibility criteria.
Aug 26, 2018 · Article Explains Exemption / Deduction under Section 54, Section 54EC & Section 54F of Income Tax Act, 1961 with FAQs and Case Laws.
Dec 29, 2022 · Introduction. Section 54 of the Income Tax Act. Applicability of Section 54 of the Income Tax Act. Eligibility criteria to avail benefits under Section 54 of the Income Tax Act. Purpose of Section 54 of the Income Tax Act. Exemptions under Section 54 of the Income Tax Act. Exemption amount. Capital gains. Capital Gains Account Scheme.
Sep 30, 2021 · Object of section 54 of the Income-tax Act, 1961. Object of section 54 is to give relief to individual or HUF who makes profit/gain on transfer of residential house and once again invest (whether purchase or construct) such capital gain amount in another residential house.
Oct 24, 2023 · Under Section 54 of the IncomeTax Act 1961, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in the purchase or construction of the residential property.
