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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 April 2014 One My client sale his residential house property having LTCG and he purchase new house property exclusively name of his son. can father claim deduction under section 54? for the property purchase exclusively name of her son?
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C.A. Mayur J. Raiyani

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C.A. Mayur J. Raiyani (Expert)
14 April 2014 Legal title is not necessary. Application of sale consideration in purchase/construction of HP is sufficient to claim exemption

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