Question ID :
40925
Exemption u/s 54F and 54
Can Exemption U/S 54F for sale of land And 54
for sale of residential house be Claimed Simultaneously For Investment In Same House Property ? Pls guide with any reference.
Posted by
Gaurav Kumar Baranwal
on
Dec 21, 2020
Filed Under
DIRECT TAXES
There is no specific bar in simultaneous claiming if deduction under both sections. Hence it can be claimed provided conditions under both sections are fulfilled. See ITAT Hyderabad decision in case of Venkata Ramana Umareddy vs.DCIT ITA no. 552)2012
Posted by
CA. chunauti dholakia on
Dec 29, 2020