Exemption of Capital Gain on Property
This query is : Resolved
16 March 2024
Assessee has sold residential property during FY 23-24.
From the sale proceeds, he has purchased a new residential property during FY 23-24, but the property is purchased in the name of his son, (son is non-resident).
Is the assessee eligible to claim Capital Gain Exemption? If not, what are the options available to claim the exemption?
Please clarify with applicable section.
Thank you
From the sale proceeds, he has purchased a new residential property during FY 23-24, but the property is purchased in the name of his son, (son is non-resident).
Is the assessee eligible to claim Capital Gain Exemption? If not, what are the options available to claim the exemption?
Please clarify with applicable section.
Thank you
16 March 2024
Issue is debatable. since there are for and against decisions. Claim exemption and if benefit is denied, take up before the court of law. No other option.
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17 March 2024
Sir, Thank you for your reply.
Could you please quote one case law for reference.
Thanks
Could you please quote one case law for reference.
Thanks
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