#section 54
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811 articlesIncome Tax

Income Tax
Section 54F: Jointly owned house will not be considered in house property calculation
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Section 54 not mandates completion of construction with 3 years
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Prior to A.Y 2015-16 no restriction on number of residential houses U/s. 54
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Two flats in different locations cannot be considered as single residential house for section 54 / 54F
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Section 54/ 54F Flat booked with builder can be considered as construction of flat
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Sec 54F not prescribe any condition as to date of commencement of construction of new house property
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Exemption u/s 54EC allowable to legal owner of property as per registered sale deed
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Exemption u/s. 54 is available even in respect of two house property / flats
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Sec. 54 Cost of residential house includes cost of furniture if it forms part of house Purchase
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Deduction U/s. 54 despite non completion of Flat Construction by developer
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All apartments received under development agreement would become one house for claim of section 54F/54
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Clarify whether acquisition of residential flat in ‘OAS’ is ‘purchase’ or ‘construction: ICAI
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Clarify Section 54 and 54F – Capital gains exemption in case of investment in ONE residential house property in INDIA: ICAI
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