Hi..
Can you please let me know that, if an assessee having a residential property on his spouse name other than the one which he purchased with the proceeds of selling a house property, can claim exemption u/s 54F...
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Capital gains
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Hi Vijaykanth,
If you sell a residential houseproperty and invest it in another residential property then 54 F is not attracted but 54 is attracted.
If you sell a commercial houseproperty or any other asset then 54 F is applicable and if wife of the assesee holds a residential house property then the same cannot be treated as owned by the assessee for disallowing exemption u/s 54 F (Krishna Kumar Vs CIT)
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