Exemption u/s 54f
This query is : Resolved
22 February 2013
Sir,
We have a client who already have 2 residential flat. In A.Y.2012-13, he transferred his vacant plot which was jointly owned by him & his wife to builder against development rights & got one flat jointly in the name of he & his wife.
I want to know whether he can be allowed exemption u/s 54F? And what will be position in case of his wife.
Please help me out.
We have a client who already have 2 residential flat. In A.Y.2012-13, he transferred his vacant plot which was jointly owned by him & his wife to builder against development rights & got one flat jointly in the name of he & his wife.
I want to know whether he can be allowed exemption u/s 54F? And what will be position in case of his wife.
Please help me out.
22 February 2013
As he is having two flats, he is not eligible to claim exemption u/s 54F, however, his wife can claim.
.
.
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