Long term capital gain. Deduction u/s 54 of I.T.Act,1961
This query is : Resolved
14 June 2021
Hi Expert, I have sold my residential flat and arise a LTCG of rs.25 lacs after considering index cost of acquisition. I have an another residential flat in the joint name with my father. Can I purchase the share of my father in residential flat by paying rs.25 lacs and claim deduction u/s 54 and save LTCG. Please reply.
15 June 2021
Yes, you can purchase the share of your father and claim deduction u/s 54.
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