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Can 54f exemption available ??

130 views 1 replies

Nikhil Gupta

2 Points Joined February 2018

My mother sold the land in another city. My mother want to Purchase the house where we live ??

House is in name of My Grand Father , After death of him,the house is in heredity comes to My father & his 2 brothers.Now as per municipality,the house is in name of My Grandfather. My mother want to give 2 uncles the money of their share & buy a house.

Can 54F exemption is available or not ?

E.g If our house value is 60 lakhs,then we want to buy giving 40 lakhs ( 60 lakhs*2/3) to both uncles.

Please help me is relationship Wife and husband property will affect ???

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210636 Points Joined July 2016

As such its possible to claim the deduction, but will have to rely upon case-laws and would be little bit expensive.

Another way is any member/s of your family (except your father) along with your mother directly purchase the whole house property from ALL THREE brothers, where your mother can invest the said sell proceeds of land and can claim deduction u/s. 54F.