Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2012
P, on partion of HUF got 19 acres of urban land and sold during 2010-11 6 acres for 60 lakhs and purchased a house property in the name of his son.
can assessee P file his return of income under HUF status and can he claim exemption u/s 54F ?
KINDLY GUIDE me with regard to SEC 54F EXEMPTION as house is not purchased in the name of Karta P.
can assessee P file his return of income under HUF status and can he claim exemption u/s 54F ?
KINDLY GUIDE me with regard to SEC 54F EXEMPTION as house is not purchased in the name of Karta P.
CA. ANKUR JAIN
(Expert)
12 February 2012
when he recd land on partition of huf, thr transaction is not taxable by virtue of sec 47
but when he sold the sAMe land it becomes taxable and he hv to declare tht in his own income tax return i.e not in huf
yes he can claim 54f if house is purchased wid in the time limits under this section
but when he sold the sAMe land it becomes taxable and he hv to declare tht in his own income tax return i.e not in huf
yes he can claim 54f if house is purchased wid in the time limits under this section
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
