Exemption from capital gains

CA.AZAD JAIN (CA) (201 Points)

16 July 2018  

An immovable property in the name of minor is sold during the FY 2018-19 the capital gain on which will be clubbed in the hands of his parents. Now, to claim an exemption U/s 54F whether the entire sale consideration needs to be reinvested in construction/purchase of Residential premises in the name of the minor or his parent in whose income the capital gain is clubbed?