Recently, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled if a taxpayer invests capital gains of one house property into an under-construction flat, it should be considered at par with him constructing his own house, rather than a purchase. The ruling brings relief to taxpayers facing project delays, by giving them an additional year. Section 54 of the I-T Act deals with capital gains from a house property. Neha Malhotra, Executive Director shares her views on aforementioned story for Business Standard.
Get capital gains benefit in case of project delay- Neha Malhotra
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