Live Help
Get News Alerts from on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session

Allowability of Sec. 54 exemption if amount spent towards residential house after due date prescribed in Sec. 139(1)

September 16, 2020[2020] 119 149 (Article)
Section 54 of the Income-tax Act, 1961 (“Act”) provides for exemption of capital gains arising to a specified assessee from transfer of a long-term capital asset to the extent capital gains are invested in a residential house within a prescribed period. The said exemption is available if the residential house is purchased or constructed within the prescribed period of one year before or two years after (in case of purchase); or three years after (in case of construction) the date of transfer of
read more 9 min read
Best view in 1140 x 768