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Ask your queries or reply to others' queries => Discussion => Topic started by: ca_sanjayin on January 09, 2012, 04:39:43 PM

Title: Query on surrender of tenancy right
Post by: ca_sanjayin on January 09, 2012, 04:39:43 PM
A partneship firm is surrendering tenanacy right. Whether the firm will be entitled for exemption under section 54 F ?
Title: Re: Query on surrender of tenancy right
Post by: camanojgupta on January 09, 2012, 06:40:49 PM
SECTION 54F DEDUCTION IS ALLOWED ONLY TO INDIVIDUAL AND HUF SO NO DED TO PF. HOWEVER THE DED WILL B ALLOWED IF TR IS SOLD BY THESE ASSESSEES BECAUSE TR IS NOW A CAPITAL ASSET.

CA MANOJ GUPTA
JODHPUR
09828510543
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