Wednesday, 21 May 2014

Entitlement to sec. 54F relief remains intact even if a residential house is used commercially

IT : Where building has been constructed for residential use with all amenities like kitchen, bathroom etc., which are necessary for residential accommodation, in such a case, even if it is used as a school or for any other commercial purpose, it cannot lose its character as a residential building so as to claim deduction under section 54F


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