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Section 54F

Latest Articles


Sale of Agricultural Land – How to Save Tax?

Income Tax : This article explores how taxpayers can save Long-Term Capital Gains (LTCG) arising from the sale of agricultural land. Relevant S...

April 24, 2025 5940 Views 0 comment Print

Will allotment date of property will be considered over registration date? Analysis of LTCG computation for real estate assets

Income Tax : Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F cla...

April 21, 2025 4407 Views 0 comment Print

Co-Ownership Doesn’t Always Mean Joint Tax Responsibility

Income Tax : Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in V...

March 30, 2025 1140 Views 0 comment Print

Big Land, Small House, Big Exemption: Section 54/54F Exemptions

Income Tax : Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and ag...

March 7, 2025 2325 Views 0 comment Print

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 2460 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 11091 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 2940 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 15567 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 31371 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 76503 Views 20 comments Print


Latest Judiciary


Flat Allotment as Nuisance Compensation Is Capital Receipt, Not Taxable

Income Tax : ITAT Mumbai holds flat received by illegal occupant as non-taxable capital receipt, reversing additions made under Section 56(2)(v...

May 4, 2025 222 Views 0 comment Print

Date of allotment letter to be considered for holding period of property: ITAT Mumbai

Income Tax : ITAT Mumbai held that date of allotment letter, rather than date on which purchase deed of conveyance was entered, should be consi...

May 2, 2025 1971 Views 0 comment Print

Section 263 cannot be Invoked for Difference of Opinion on Section 54F Exemption & Indexed Cost

Income Tax : ITAT Mumbai allows appeal of Jasmine Bhaskar Shah against PCIT's Section 263 revision on exemption under 54F and indexation of gif...

April 22, 2025 465 Views 0 comment Print

Section 54F Deduction Allowed to Son for Purchasing Two Properties from Inherited Assets

Income Tax : This is a peculiar case wherein assessee has declared as a single owner and sold the property, however purchased two properties an...

April 21, 2025 12483 Views 0 comment Print

Assessment declared invalid due to service of notice on wrong address

Income Tax : Thereafter, there was change in incumbent and fresh opportunity was provided and notice u/s.142(1) was issued. But this notice was...

April 18, 2025 1110 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 20490 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 260196 Views 11 comments Print


Big Land, Small House, Big Exemption: Section 54/54F Exemptions

March 7, 2025 2325 Views 0 comment Print

Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and agricultural land considerations.

Section 54F Deduction Cannot Be Denied for Delay in Flat Handover if Compliances Are Met

February 27, 2025 4728 Views 0 comment Print

ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed citing judicial precedents.

ITAT Grants Section 54F Exemption Despite Non-Deposit in Specified Account

February 14, 2025 2736 Views 0 comment Print

Visakhapatnam ITAT allowed a Section 54F capital gains exemption, even though the assessee didn’t deposit the sale proceeds in a specified account. The tribunal cited beneficial interpretation of the provision and the assessee’s investment in a new property.

No Transfer Under Section 2(47) for Immovable Property Contract Without Consideration

February 14, 2025 315 Views 0 comment Print

In the recent ruling HC of Telangana have held that assessee is eligible to claim capital gain after observing that the possession of the immovable property has not been handed over to the developer as contemplated u/s 53A of the Transfer of the Property Act, 1882.

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

February 7, 2025 807 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 3261 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 510 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 909 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 270 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 3795 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 […]

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