WebAug 3, 2024 · Besides the AO vide his order has also disallowed the assessee’s claim of deduction uls 54F of the Act amounting to Rs.17,75,000/- and also the assessee’s claim of deduction u/s 54B amounting to Rs.36,39,000/-. As aggrieved from the AO’s order, the appellant while challenging the AO’ order has in total taken 4 ground of appeal as ... WebJun 9, 2015 · According to section 54F an individual or HUF can claim exemption of any long term capital asset other than a residential house on investing net sale consideration in a residential house within two years in case of purchase and within three years in …
deduction u/s. 54 B
WebIncome Tax - Deduction u/s 54B - LTCG - the claim made by the assessee that of deduction u/s 54B was justifiable as the purchase was made in the name of assessee’s … WebJan 1, 2001 · Notwithstanding section 454B(b)(1) of the Social Security Act [42 U.S.C. 654b(b)(1)], as added by this section, any State which, as of the date of the enactment of … emg 1 pickup 1 volume 1 tone
Section 54EC: Tax Deductions and Applications - BankBazaar
WebMar 7, 2024 · Deduction Limit Under Section 54 and Section 54 F of the Income Tax Act. February 2024: The government has imposed a limit on deduction on long-term capital gain tax for reinvestment in residential properties under section 54 or 54 F of the Income Tax Act. The deduction limit is up to Rs 10 Crores. The limit will be applicable from April 1 onwards. WebDec 24, 2024 · Section 54B of the Act authorizes an assessee to claim deduction under this section on an investment made for purchase of agricultural land two years prior to … WebAug 22, 2024 · Section 54 exempts long-term capital gains tax, arising on the sale of a residential house, if the indexed capital gains are invested in the purchase or construction of another residential house, within the specified period. teenage mutant ninja turtles 1 movie