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Capial gains liability
sales of residential house amount invested in others residential house in the name of my major so or daughter within 12 months . Liability of capital gains arise or not in cae of long term captial assets . Please advise
Replies (7)
Available u/s 54
It's available provided some conditions are fulfilled. A tenure is there.
Question investment in son or daughter name is possible under section 54
It is possible and you can claim exemption of section 54.
What procedure adopted for exemption under section 54
Calculate the capital gain and exemption amount. You need this figures for ITR. No other document is submitted.
Tds amount amount deducable by me or my son in case of investment my me for purpose of 54 deduction above 50 lakhs purchase amount
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