Is residencial plot tax exempted

Hi Sir, Recently I have bought a plot to construct house with in a year or two. Will this amount can be shown for tax exemption while filling ITR? Please share the details

Regards, Supraja

asked Aug 07 '14 at 18:17 by Supraja81 1681113

If you want to avail deduction against long term gains earned on property sale, then its available u/s 54 and 54F.

Otherwise its only available if you have taken a home loan.

answered Aug 08 '14 at 11:32 by Pankaj Batra 5.2k320


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Asked: Aug 07 '14 at 18:17

Seen: 1,972 times

Last updated: Aug 08 '14 at 11:32