Can HUF Calim Exemption us 54F
This query is : Resolved
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.
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.
11 July 2024
No. He can claim it in his individual capacity, not under HUF.
25 August 2024
Good Luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Banking Related Issue
- Average Cost Of High Quality Diamonds
- TDS offline utility
- Due Date Clarity
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- IT returns for fresh job holders
- Rent claimed on building given on permissive possession basis
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
