Can HUF Calim Exemption us 54F
This query is : Resolved
Quick Summary
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.
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.
Dhirajlal Rambhia
(Expert)
11 July 2024
Contractional issue. The flat should have been purchased by Karta through HUF PAN.
11 July 2024
Karta is one off the owner in the said flat, can't he still claim the deduction in the flat purchase.
Dhirajlal Rambhia
(Expert)
11 July 2024
No. He can claim it in his individual capacity, not under HUF.
Dhirajlal Rambhia
(Expert)
25 August 2024
Good Luck.
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