I have 2 residential properties as under
1. Inherited share from fathers house 12.5%. Rest share to other family members
2. Inherited share from deceased wife 50%. Balance 50% with mother-in-law (she purchased the house but sale deed doesn't mention it)
Qustion. I have sold a residential plot and have substantial capital gains. Can I use the net proceeds to buy a house to claim exemption under Section 54F?
CAclubindia
