Long term capital gain income tax rebate

This discussion clarifies the conditions for claiming a Long Term Capital Gains (LTCG) tax rebate under Section 54F of the Income Tax Act. Specifically, it addresses whether an individual can claim the rebate when their son purchases a new property and lists the original seller as a co-owner. The consensus is that the original seller (Mr. X in the example) must be the one making the investment in the new property, and they can then include their son (Mr. Y) as a co-owner, provided all other conditions of Section 54F are met.