Capital Gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 November 2010
Dear Sir,
An assessee sold his house property in the current year. The capital gains are required to be invested in new house to claim benefit u/s 54. Is it possible that new house is taken on his daughter's name, still will he get the exemption? What if he pays the down payment for the daughter's flat out of that capital gain, will he get the exemption for downpayment paid u/s 54.
If not what is the other way out for saving of capital gains tax?
An assessee sold his house property in the current year. The capital gains are required to be invested in new house to claim benefit u/s 54. Is it possible that new house is taken on his daughter's name, still will he get the exemption? What if he pays the down payment for the daughter's flat out of that capital gain, will he get the exemption for downpayment paid u/s 54.
If not what is the other way out for saving of capital gains tax?
CA Navin Jain
(Expert)
29 November 2010
You can not take the benefit of capital gain if you have purchased the house in the name of daughter.
you can purchased the house in the name of assessee then gifted to daughter.
you can also invested capital gain amount in infrastructure bond.
you can purchased the house in the name of assessee then gifted to daughter.
you can also invested capital gain amount in infrastructure bond.
Message likes :
1 times
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
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- 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
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
