Claiming of exemption under sec 54f
This query is : Resolved
20 November 2017
Vanitha(mother) sold plot for Rs.40 Lakhs, LTCG is Rs.2.36 Lakhs and His Son kumar sold plot for Rs.17 Lakhs, LTCG is Rs.1.73 Lakhs. out of the Sale Proceeds (40+17) they jointly Purchased a Residential house ( 60 & 40 share ) for Rs.53 Lakhs. Please guide me how much exemption can be claimed U/S 54F, both of them can Claim Exemption ?
21 November 2017
They will get exemption proportionately according to their respective proportion of investment.
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