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Long term capital gain income tax rebate


palki goyal   18 January 2020

palki goyal

 1 points

| My Other Post

Hi , 

 Need to ask a question , example mr X sale one property of rs 20 lakh and earn profit of rs 18lakh , but with in 6 month mr y ( mr x' son) purchase new residential house and shows mr X as a co-owner of new property , so mr X can claim benefit of   long term capital gain tax rebate u)s 54 f under income tax rule 

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     19 January 2020

Dhirajlal Rambhia
KVO Merau Kutchh 
 9230 likes  93355 points

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Yes, provided all the conditions of the sections gets complied, along with the claimed investment.

2 Like
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Roshni (Studwnt)     25 January 2020

Roshni
Studwnt 
 76 likes  1136 points

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No no here Mr X has to invest why son will invest..it is vice versa Mr X needs to invest and he can show Mr y as co owner


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