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Sale of residential property belonging to huf

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Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2013 what will be tax consequences if a residential property belonging to HUF is sold & whose karta is died ?
will the members liable to pay any tax. if yes then suggest tax planning.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2013 a new karta needs to be appointed and if new residential property is purchased or the whole capital gain is inverted in bonds mentioned under sec 54EC like REC or NHAI bonds upto 50 lacs within 6 months of transfer of old residential house then u can get exemption.

The above investments should be in name of HUF.

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