54 EE Insertion

[Tejas Kothari]

Hello Can i get the Benifit of newly inserted Section 54 EE if i make sale deed in this FY 2016-17 (A.Y 2017-18)???

Thanks

Tejas

[Ganeshan Kalyani]

Sir, the new section 54EE is with effect from 1st April 2016. Thanks.

AI Summary

Section 54EE applicability: effective from 1 April 2016, affecting claims for capital gains relief on 2016-17 sales. Availability of relief under Section 54EE turns on the provision's operative commencement: the provision is effective from 1 April 2016, and any claim to its benefit for a sale in the 2016-17 fiscal year must be assessed against the section's conditions as in force from that commencement date.