Dear experts,
An assessy transfer jewellery during FY 2016-17 but could not utilise sale proceeds within stipulated time i.e. return filling date and deposit the entire amount in saving bank account, after return filling date, he opens a Long Term Capital Gain account and deposited whole consideration in it. Can he entitled to claim expemption u/s 54F??
If an assessee sold long term capital assets and invested the consideration in house property owned by spouse. Can he entitled to claim exemption u/s 54F?
After return filling date, he opens a Long Term Capital Gain account and deposited whole consideration in it. Can he entitled to claim expemption u/s 54F??
Ans.: No
Depends upon property registration...
If the property is registered in the name of husband, and investment made by wife.
Not claimable, unless the investment is through husband's account.
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