deduction u/s 54 & 54f

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  1. SUKSHAM ARORA

    SUKSHAM ARORA New Member

    Is service tax paid for purchase of under construction property allowed U/S 54 and 54F ALONG WITH THE SALES CONSIDERATION? PLEASE REPLY ASASP
     
  2. ZED

    ZED Well-Known Member

    All the taxes paid will form the cost of acquisition of the house and will be included in the cost of construction and hence can be used for exemption amount.

    What do you mean by alongwith the sales consideration?

    Have you sold the property without receiving the possession thereof?
     
  3. SUKSHAM ARORA

    SUKSHAM ARORA New Member

    basically its a purchase of under construction property on which service tax is paid
     
  4. ZED

    ZED Well-Known Member

    When you will claim the exemption you can claim all the taxes paid because they are your cost of acquisition of the property. Without paying it you can not buy the property completely.
     
  5. gaurav1705

    gaurav1705 New Member

    I sold my capital asset on 19.06.2014 and deposited full Long term
    capital gain amount in CGAS account with designated bank before due
    date u/s 139(1) and after 2 years from date of transfer i.e. now in
    3rd year, can I purchase land and construct house to avail exemption
    u/s 54F.
     
  6. ZED

    ZED Well-Known Member

    Your query has been answered on mail, kindly check.
     
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