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Section 54F

Latest Articles


Real Estate Taxation Simplified: Rollover Benefits Post-Budget 2024

Finance : Understand real estate tax changes post-Budget 2024, including LTCG tax reduction, removal of indexation benefits, and rollover pr...

January 24, 2025 2205 Views 0 comment Print

Multiple sales proceeds and Section 54F of Income Tax Act, 1961

Income Tax : Understand how to combine proceeds from multiple sales under Section 54F of the Income Tax Act, 1961, to claim tax exemption on lo...

January 13, 2025 1761 Views 1 comment Print

Simplified Summary of Landmark Capital Gain Tax Cases: Part B

Income Tax : 1. Further to the article Capital Gain Tax Exemption on Residential Property: Land Mark Judgment PART A, This article delves into ...

January 13, 2025 7665 Views 0 comment Print

Capital Gain Tax Exemption on Residential Property: Landmark Judgments – Part A

Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...

January 9, 2025 218988 Views 16 comments Print

Capital Gain Exemption under section 54F on Investment in Multiple Units

Income Tax : Learn about capital gain exemptions for investing in multiple residential units under Section 54F, with case law insights on eligi...

December 25, 2024 26511 Views 0 comment Print


Latest News


Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date

Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...

January 20, 2023 11034 Views 0 comment Print

Representation to FM on Concerns of Chartered Accountants

CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...

January 30, 2021 2901 Views 0 comment Print

Request to extend time limits under section 54 to 54GB

Income Tax : KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act,...

January 10, 2021 15537 Views 0 comment Print

Request for extension of due dates of Tax Audit Reports/ITR

Income Tax : All India Federation of Tax Practitioners (CZ) has requested CBDT that due date of filing return of income u/s 139(1) for all the ...

December 19, 2020 31305 Views 19 comments Print

ICAI requests for extension of various Income-tax due dates

Income Tax : Direct Taxes Committee of ICAI has Request(s) for extension of various due dates under Income-tax Act, 1961 especially Tax Audit R...

December 18, 2020 76389 Views 20 comments Print


Latest Judiciary


Sections 54 & 54F Apply to One Residential House Unless Adjacent Units Form a Single Unit

Income Tax : ITAT Mumbai ruled on Neville J Pereira vs. ITO, addressing Section 54 exemption for multiple residential flats. Analysis of capita...

February 7, 2025 300 Views 0 comment Print

ITAT allows Section 54F Deduction for Construction on Land Owned by Mother

Income Tax : ITAT Chandigarh allows full deduction under Section 54F for Sher Singh's construction on land owned by his mother, setting aside t...

February 6, 2025 1857 Views 0 comment Print

Denial of exemption u/s. 54B for purchase of agricultural land in name of wife not justified

Income Tax : ITAT Delhi held that denial of exemption under section 54B of the Income Tax Act for purchase of agricultural land in the name wif...

February 1, 2025 333 Views 0 comment Print

Exemption Under Section 54F Allowed Even If Claimed Post section 148 notice

Income Tax : ITAT Visakhapatnam rules exemption under Section 54F can be claimed even if made after a notice under Section 148 of the Income Ta...

February 1, 2025 522 Views 0 comment Print

Deduction u/s. 54F admissible even is sale deed executed after period of two years

Income Tax : ITAT Pune held that deduction under section 54F of the Income Tax Act admissible even if assessee is shareholder in developing com...

January 31, 2025 78 Views 0 comment Print


Latest Notifications


Extension of time limit for compliance under section 54 to 54GB

Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...

January 6, 2023 20310 Views 1 comment Print

Govt Extends due dates under Income Tax Law & Benami laws

Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020  govt extends  Due date for ITR for FY 2018-19  upto 31.07.2020, Last...

June 24, 2020 259194 Views 11 comments Print


Latest Posts in Section 54F

Sections 54 & 54F Apply to One Residential House Unless Adjacent Units Form a Single Unit

February 7, 2025 300 Views 0 comment Print

ITAT Mumbai ruled on Neville J Pereira vs. ITO, addressing Section 54 exemption for multiple residential flats. Analysis of capital gains and judicial precedents.

ITAT allows Section 54F Deduction for Construction on Land Owned by Mother

February 6, 2025 1857 Views 0 comment Print

ITAT Chandigarh allows full deduction under Section 54F for Sher Singh’s construction on land owned by his mother, setting aside the A.O.’s capital gain addition.

Denial of exemption u/s. 54B for purchase of agricultural land in name of wife not justified

February 1, 2025 333 Views 0 comment Print

ITAT Delhi held that denial of exemption under section 54B of the Income Tax Act for purchase of agricultural land in the name wife of the assessee is not justifiable. Accordingly, denial of benefit of deduction set aside.

Exemption Under Section 54F Allowed Even If Claimed Post section 148 notice

February 1, 2025 522 Views 0 comment Print

ITAT Visakhapatnam rules exemption under Section 54F can be claimed even if made after a notice under Section 148 of the Income Tax Act.

Deduction u/s. 54F admissible even is sale deed executed after period of two years

January 31, 2025 78 Views 0 comment Print

ITAT Pune held that deduction under section 54F of the Income Tax Act admissible even if assessee is shareholder in developing company and sale deed has been executed after a period of two years. Accordingly, appeal of revenue dismissed.

Taxability of Capital Gains Under a Joint Development Agreement

January 26, 2025 2907 Views 0 comment Print

For property owners seeking to commercialize their land, Joint Development Agreements (JDA) are one of the most sought out options. These agreements have their own set of concerns, particularly regarding taxation of capital gains. This essay aims to present an analysis concerning capital gains tax with respect to Joint Development Agreements. 1. Exemption Under Section […]

Triplex flat constitutes a single residential unit for Section 54 Exemption: ITAT Mumbai

January 25, 2025 1110 Views 0 comment Print

ITAT Mumbai allows Bhaskar Shah’s appeal on claiming Section 54F deduction for a triplex flat treated as a single residential unit. Key details of the ruling inside.

Section 54F Exemption denied for delay in Construction Beyond Statutory Timeline

January 25, 2025 5001 Views 0 comment Print

 ITAT Hyderabad dismisses appeals by Smt. Lekha Reddy Mettu and others regarding capital gains from immovable property transactions. Key judgment details explained.

Section 54F Exemption allowed on Land Purchased Beyond 2 Years for Residential House Construction

January 25, 2025 735 Views 0 comment Print

ITAT Ahmedabad sets aside PCIT’s order on a capital gains exemption claim under Section 54F. Details of the decision and legal interpretation explained.

Real Estate Taxation Simplified: Rollover Benefits Post-Budget 2024

January 24, 2025 2205 Views 0 comment Print

Understand real estate tax changes post-Budget 2024, including LTCG tax reduction, removal of indexation benefits, and rollover provisions for capital gains tax deferral.

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