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?
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?
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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