Capital gains sec 54f exemption if purchased in sons name
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2012
P got urban land from his father on partion of his fathers HUF.
AFTER 10 years he sold the above urban land and purchased house property IN THE NAME OF HIS SON K.
CAN he claim exemption u/s 54F by filing return under HUF status ?
Note: house NOT purchased in the name of Karta.to claim exemption,is it necessary to purchase house in karta's name?
AFTER 10 years he sold the above urban land and purchased house property IN THE NAME OF HIS SON K.
CAN he claim exemption u/s 54F by filing return under HUF status ?
Note: house NOT purchased in the name of Karta.to claim exemption,is it necessary to purchase house in karta's name?
12 February 2012
It is necessary that the funds of HUF must have been used for acquiring the property,
even if it has been purchased in the name of any member of the HUF.
By following the link you will definitely
be guided-
https://taxguru.in/income-tax/exemption-54f-huf-allowable-property-individuals-purchased-huf-account-hufs-pan.html
even if it has been purchased in the name of any member of the HUF.
By following the link you will definitely
be guided-
https://taxguru.in/income-tax/exemption-54f-huf-allowable-property-individuals-purchased-huf-account-hufs-pan.html
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Liable to deduct tds and 44ADA
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
