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Sir, Mr X (father) had sold house in may 17 for 13laks....and now his son Z wants to buy a land to construct house in his name and he wants to make loan in his name that is in Z name so... Can Mr. X invest that 13laks in this land and claim exemption while filling return??? If no den is der any procedure to do so?
Replies (2)
Mr X and Z should jointly construct house within 3 years of sell of house property by X.
Mr X may invest only upto LTCG amount..... for nil tax liability......
Yes... I agreed to Mr Dhirajlal Rambhia.,
@ Sagar,
Mr X follow above said way then he ll have "Nil Tax Liability"...
The Father can't get Exemption for the House of Son name...
@ Sagar,
Mr X follow above said way then he ll have "Nil Tax Liability"...
The Father can't get Exemption for the House of Son name...
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