Capital gain query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2018
We sold a residential house in the name of our father with approx capital gain of 15 L.
My father intends to purchase 2 residential flats for 2 brothers. The additional amount required will be arranged through Housing Loan.
Kindly advise how to proceed to get the exception from LTCG under 54 / 54F and how to proceed for purchase of 2 new residential flats.
My father intends to purchase 2 residential flats for 2 brothers. The additional amount required will be arranged through Housing Loan.
Kindly advise how to proceed to get the exception from LTCG under 54 / 54F and how to proceed for purchase of 2 new residential flats.
17 June 2018
Only one residential house purchase is exempt under section 54 in the name of your father and later gift to brother
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