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Exemption of long term capital gain u/s 54

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(Querist)
10 May 2014 Mr.x already occupied a flat in his name few years ago,and Mr.x has three brothers,and they received a residential property jointly from their parents. they sell it,and divide the selling price among them equally, now Mr.x wants to get exemption u/s 54 by purchasing another house in the name of his son. are he get exemption u/s 54. or by investing LTCG u/s 54EC
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 May 2014 he can get exemption under both the sections.
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Rupesh Jain

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Rupesh Jain (Expert)
14 May 2014 HE CAN EXEMPTION WHEN HE INVEST IN HOUSE IN HIS NAME NOT IN HIS SON NAME.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 May 2014 Rupesh. It is allowed even if purchased in son's name..
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