Claiming Exemption under sec 54 or 54f of ITA

This discussion addresses the possibility of claiming capital gains tax exemption under Section 54 or 54F of the Income Tax Act when selling land and reinvesting in a residential property. The query specifically asks if exemption is possible if the new property is registered in the name of a spouse or children. The response clarifies that while registering property in a spouse's or child's name is a personal choice, it generally disqualifies the individual from claiming exemption under Section 54F due to unmet eligibility criteria.