banner_ad

Capital Gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 March 2020 One of the partner of a partnership firm sold his individual property attracting Long Term Capital Gain. Now, he has purchased another property to save the LTCG, but the property purchased by him is in name of the partnership firm in which he is a partner. Please suggest, whether he will avail the benefit of exemption of LTCG u/s 54 to 54F?
Profile Image

Eswar Reddy S

Profile Image

Eswar Reddy S (Expert)
05 March 2020 No.He can't avail deduction
Profile Image

VIJAY KUMAR

Profile Image

VIJAY KUMAR (Expert)
05 March 2020 The property should be purchased on the name of the seller and not on firms' name to claim the deduction u/s 54.
Profile Image

akash agrawal

Profile Image

akash agrawal (Querist)
05 March 2020 Thank you everyone for guiding me.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details