Sir,
I sold one of the land which was in my name and used the sale consideration to build a new house but New house constructed in my Sister's name but we all are staying together.
Whether I'm eligible to claim exemption us 54F or not ?
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Capital Gain Exemption u/s 54F
Replies (3)
As per plain reading, Assessing Officer would disallow the exemption. You may get relief during appeal with higher authority.
Sir, then how can get exwmption on this ?
If I transfer land ownership to my sisters name before sale as gift and use the sale consideration to build new house is possible ?
Then she will be eligible or not to claim exemption us 54F ?
If I transfer land ownership to my sisters name before sale as gift and use the sale consideration to build new house is possible ?
Then she will be eligible or not to claim exemption us 54F ?
1. Yes.
2. Or build new house in joint ownership, after obtaining permission to build house from land owner. (over which house is to be constructed, if already purchased)
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