Detailed Notes on 54 cash
Detailed Notes on 54 cash
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What are the provisions concerning the transfer of property following proclaiming profit beneath Section 54?
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If the builder of The brand new residential construction fails handy above the property to your taxpayer in three a long time of order, the exemption continues to be authorized.
House fairness loans Home fairness financial loans Enable you to borrow a lump sum at a fixed fee, depending on exactly how much of the home you have outright.
If the expense of The brand new household house is reduce than the whole sale amount of money, then the exemption is allowed proportionately. For your remaining volume, you could reinvest the money beneath Section 54EC inside of 6 months.
However, the exemption is issue for read more the funds attain not exceeding Rs two crore. Also, the exemption is offered only once inside the life time of the seller.
The definition of funds asset below portion two(14) with the Profits Tax Act contains house of any type movable or immovable, tangible or intangible held by the assessee for any goal.
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