sec 54
This query is : Resolved
19 February 2010
Whether the exemption u/s 54 shall be available in case of property is purchased in the name of grand son out the sale proceed of property used for residence
19 February 2010
No, exemption U/S 54 in case of Investment in property in the name of grand son is not eligible. To clai, exemption U/S 54 new property should be in the self name.
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