Section 54
This query is : Open
14 May 2014
My assessee sold his long term residential house property in Dec. 2013. And full amount of sale consideration invested in construction of residential house property. But the problem is that the land (whereupon residential house property constructed) was in the name of his wife which were purchased in 5 years back. Can my assessee claim deduction u/s 54?
15 May 2014
ownership of land is not relevant. as long as the house has been constructed and the capital gains have been exhausted in doing so, exemption shall be available.
15 May 2014
Dear nikhilji
Can u give any case law or article in this regard.
Can u give any case law or article in this regard.
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