Capital gains
Tharun Kothari (12 Points)
04 February 2016Tharun Kothari (12 Points)
04 February 2016
RAHUL
(Student CA Final )
(377 Points)
Replied 04 February 2016
No. If the sons are dependent and are not earning income/ filing return individually then may be under Clubbing provisions.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 04 February 2016
It is necessary and obligatory to have investment made in residential house in the name of the transferor only and not in name of any other person. However, if the property is registered in the name of the spouse for the purpose of security etc, the assessee would be the deemed owner of the property and exemption is available in such a case.
Considering the above, exemption u/s 54 may not be available in this case.
Tharun Kothari
(12 Points)
Replied 04 February 2016