90 crore tax deduction approved! Delhi HC allows 54F income tax deduction for buying multiple floors! Here's what it means for you

In a decision bringing clarity to Section 54F deductions under the Income Tax Act, the Delhi High Court has clarified that owning multiple floors in the same building is not equivalent to owning multiple residential properties. This ruling allows homeowners to claim long-term capital gains exemptions when investing sale proceeds into a new residential house, even if they own multiple floors in their existing single residence.

from Tax-Wealth-Economic Times https://ift.tt/3VbAmBi