An assessee individual sold a property and invested the sales proceeds in a flat, but since he was intending to gift that new flat to his son he directly purchased the new flat in the name of son. Whole of the purchase amount was paid by the assessee, the father. Is the assessee eligible to claim exemption u/s 54F?
Yes the assessee can claim the exemption as there is beneficial ownership
Yes the assessee can claim the exemption as there is beneficial ownership
Thank you very much
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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