Section 54/54f

This query is : Resolved

aravind (Querist)
Follow

11 August 2013 Hai Friends,

Please clarify this.

A HUF owns a residential house and it is a long term capital asset. That asset is sold by HUF and to avail exemption u/s 54 a new hose is purchased. On whose name it should be purchased. whether it should be purchased in the name of karta or it is sufficient if it is purchased in the name of any coparcener. because Karta dont have any income and the coparcener is eligible for a loan, they want to buy a property in the name of that coparcener.

last question- what will be the case if the long term capital asset sold is a residential plot and want to take shelter u/s 54F by purchasing the new hose property.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

11 August 2013 In both the cases new house should be purchased in the name of HUF.
.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

siddhesh satardekar

ARUP BHATTACHARYA

venkatesh c

KANHA ASSOCIATES

Raj Jaggi

Subscribe Now

Section 54/54f

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY

Accountant