#Section 54F
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‘Purchase’ under Section 54F of Income Tax Act, 1961

Section 54F Deduction allowable on Independent Residential Units in single building

HUF Eligible For section 54F Exemption for Property Purchased in Joint Name of Members

Section 54F Deduction available on reinvestment in twin residential units

Section 54F deduction eligible against new residential house acquired outside India

No section 271(1)(c) penalty for Mere Disallowance of section 54F Claim

Multiple Flats not linked to each other cannot be treated as Single Residential House

Section 271(c) penalty not imposable on Deletion of 54F Disallowance

Once AO conducted adequate inquiry, invocation of section 263 is unsustainable

Section 54F Exemption allowable even if new residential house is purchased in wife’s name

Section 54F exemption not allowable if no property purchased or constructed within stipulated period

No Section 54 exemption on Gain on Sale of industrial plot of land with office-cum-residential structure

Section 271(1)(c) penalty not leviable for mere denial of section 54F Deduction

Section 54F: Date of allotment will be treated as date of acquisition
Explore the latest Section 54F updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
