Residential flats has to be considered as residential house for the purpose of exemption u/s 54 of Income Tax Act, 1961

2 comments Saturday, June 25, 2011
Karnataka High Court has held in an important case namely CIT V Smt. K.G Rukminiamma that residential flats constitute "a residential house" for the purpose of section 54, where Profit on sale of property was used for residence it was held that four residential flats cannot be construed as four residential houses for the purpose of section 54, when all were situated in the same building. It has to be construed only as "a residential house" and the assessee is entitled to the benefit accordingly

The Full Judgement is provided herebelow:

[2011] 331 ITR 0211

Commissioner of Income-tax Versus Smt. K. G. Rukminiamma(Karnataka High Court)

Dated - August 27, 2010


KUMAR N., JAGANNATHAN V. JJ

JUDGMENT

N. Kumar J.-

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Income Tax Returns can now be filed on Mobile Phone

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I have found the following news very intersting so sharing it herebelow:

Online income tax return filing company TaxSpanner today announced launch of mobile version of its solution that would enable users to file income tax returns (ITR) from their handset.

“After introducing the eFile by eMail option where customers need to just send us an email with a few details, e-filing of taxes through mobile is the next obvious step for the company,” Ankur Sharma, CEO, TaxSpanner said in a statement.
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