Exemption from long term capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 Hi,

1. Mr. X (member of HUF) sold a land (personal Property) at long term capital gain

2. Mr. X is investing the above proceeds in a Residential apartment constructed by HUF in which Mr. X is a member.

3. Now can Mr.X claim exemption?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 December 2011 There is no problem if proceeds of sale are invested with property construted by related party if the conditions mentioned in section 54F are satisfied.

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 thank u:)))

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