https://www.taxtmi.com/highlights?id=104255 Section 54 relief for construction of a new residential house depends materially on completion within the statutory three-year period after transfer of the original asset; construction commencing before that transfer does not by itself prevent relief. Valuation-supported construction expenditure, separately identifiable from land cost, qualifies for deduction where timely completion is established. Land may form part of a new residential house investment only if its acquisition and construction satisfy the prescribed conditions. A plot acquired outside the applicable period and registered in the spouse's name is excluded, and a later settlement in favour of the assessee does not establish entitlement for the relevant year. Relief is therefore confined to eligible construction cost. en-us Mon, 28 Sep 2026 08:12:22 +0530 Mon, 28 Sep 2026 08:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104255 Section 54 relief for construction of a new residential house depends materially on completion within the statutory three-year period after transfer of the original asset; construction commencing before that transfer does not by itself prevent relief. Valuation-supported construction expenditure, separately identifiable from land cost, qualifies for deduction where timely completion is established. Land may form part of a new residential house investment only if its acquisition and construction satisfy the prescribed conditions. A plot acquired outside the applicable period and registered in the spouse's name is excluded, and a later settlement in favour of the assessee does not establish entitlement for the relevant year. Relief is therefore confined to eligible construction cost. Highlights Income Tax Mon, 28 Sep 2026 08:12:22 +0530 https://www.taxtmi.com/highlights?id=104255