capital gains exemption u/s 54f
This query is : Resolved
stuti agarwal
(Querist)
18 January 2010
an individual has sold a long term capital asset and purchased a residential house property within the time limits prescribed u/s 54F on the name of her daughter due to horoscopic reasons and made a MOU for the same, is exemption u/s 54F available to him???
Bimal Thacker
(Expert)
18 January 2010
No, Investment should be in his/her own name
18 January 2010
Residential house must be in the name of the assessee only - For qualifying for the exemption under section 54F, it is necesÂsary and obligatory to have the investment made in residential house in the name of the assessee only.
Citation:-
Prakash Vs. ITO [2008] 173 Taxman 311 (Bom).
Citation:-
Prakash Vs. ITO [2008] 173 Taxman 311 (Bom).
18 January 2010
agree with Mr. Warrier
CA Ravi Sisodia
(Expert)
18 January 2010
Agree
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