Can HUF Calim Exemption us 54F

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This discussion addresses whether capital gains tax exemption under Section 54F can be claimed when shares held by a Hindu Undivided Family (HUF) are sold, and the proceeds are invested in a residential flat. While the flat is owned by coparceners, the agreement is not in the HUF's name. The consensus is that the exemption might not be applicable under the HUF's PAN if the property isn't directly purchased by the HUF through its Karta. However, the Karta, being a part-owner, may be able to claim the deduction in their individual capacity.

Gaurav

Gaurav (Querist)
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11 July 2024 Hello Members,

I sold of shares in HUF and the proceeds received was then invested in the newly bought residential flat by me and my family. However HUF name is not there in agreement but rest all of the co parceners are owner of the said flat.
Can I claim exemption us 54 F on the Capital Gain on derived on selling of the shares.