capital gains...

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2010 a person XYZ purchased a flat for 78 lakhs on 28/05/2009. he sold a plot for rs.50 lakhs on 29/10/2009(originally purchased in F.Y 1999-00). he is already having a residential house, now what would be the capital gain & effective exemption in case where his son wants to file ITR in name of XYZ as he(XYZ) is dead on 29/01/2010 ??
Please help....

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 August 2010 There was a gain on sale of plot and house porperty was purchased and the assessee was owner of only one more residential flat at the time of purchase of flat so exemption u/s 54F allowable.

The ITR will be filed by the father PAN and writing estates of Mr. ABC (thorugh legal heir XYZ)

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