Capital gain

Father should be at least, co-owner in the new property, to claim exemption under section 54.

Thnx for the reply sir but if the property is purchased in the name of wife instead of son, then whether the exemption will be available to the husband..??

The Delhi High Court in its ruling in CIT vs Kamal Wahal, held that for the purposes of Section 54F, the new residential house need not be purchased by the assessee in his own name nor is it necessary that it should be purchased exclusively in his name. It is moreover to be noted that the assessee in the present case has not purchased the new house in the name of a stranger or somebody who is unconnected with him. He has purchased it only in the name of his wife. There is also no dispute that the entire investment has come out of the sale proceeds and that there was no contribution from the assessee's wife.
So, assessee can take exemption u/s 54 if the new house property is invested in wife's name. Also there should not be any issue if house property is purchased in the name of son having regard to the rule of purposive construction and the object which Section 54/54F seeks to achieve fulfils here.

yes father can get benefit only if his name is show in register deed.