Income Tax Quiz 3


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4 thoughts on “Income Tax Quiz 3

  • Manjunath Irakar
    September 30, 2020 at 4:47 am

    Dear sir /madam
    I think 4th no. Question the answer you have is wrong deduction will be the amount invested or capital gain which ever is lower

    • Malvika Singh
      September 30, 2020 at 5:44 am

      No dear, I believe Question is correct because it is asking for Deduction BASIS for Section 54F which is Net Consideration only.

      Section 54F exemption depends upon Value of Net Consideration invested in buying new property while other section (like 54, 54B, 54D etc.) consider Amount Invested or Capital Gain; whichever is lower.

      Thanks 🙂


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