Long term capital gain - section 54f

"The question is WHETHER "B" (A's Wife) can buy a new property SOLELY in her name (or with A as the Joint Owner with partial contribution)?"

As per her wish and need, either way exemption u/s.54F can be claimed.

I have a question on applicability of sec 54 & 54F -

In the above case A & B has sold commercial cum residential property (For the sake of convenience let us assume LTCG on commercial portion is 100000 & residential portion is 50000), Now I want to ask that on purchase of new residential house property this total gain amount of Rs 150000 can be invested u/s 54 or it will be combination of sec 54 & 54F?

Generally property is either residential or commercial. so such situation doesn't arise for single registered document. If two separate documents for different properties, both are independent for exemption clause. So, depends upon the registered document/s.

Hello, The query is : I sold old house in July 2018 and CG as per valuation is 50 Lacs (Sales Value - Indexed Cost). I own a flat jointly in name of my wife since 2005. I purchased a plot from above amount for 40 Lacs in September 2018 and deposited unutilized 12 Lacs in SBI Capital Gain Account. in July 2019 pending construction work by contractor. Now the ITR-3 has to filed because I have income from Training & Coaching Profession also. I have to claim exemptions under Sec54 for plot purchase and 54F for SBI-CG A/C - Is there any fault. Thanks in advance. & Regards,


 

There is no separate claim, its single claim u/s. 54 for construction of a house property over the plot purchased. (against LTCG of house property sold)

Highly Obliged to have a response from your valued time. 

Before posting query, I came to understand from deep search that before filing ITR-3 on 31/8/19, any unutilized amount should be deposited in SBI-Capital Gain A/c. Otherwise, this amount will be taxed. Hence the query was raised.