Exepmtion u/s 54
This query is : Resolved
14 February 2017
A house property sale by a person and the consideration reveived is invested in house property in the name of his son. whether that person can claim exepmtion u/s 54 ?
14 February 2017
No, the investment has to be made in the name of the seller of the property only. The idea is to invest the sale proceeds. here the seller has gifted the sale proceeds to his son and not invested the same.
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