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Long term gain under section 54 f

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 July 2012 A and B is co-owners of two residential flat in the ratio of 60: 40 basis and now want to sell the above flats and want to investment in new residential flat in joint name whether they can claim the LTG U/s 54F on investment in new residential flat
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
13 July 2012 Dear Friend, the LTCG benefit is available to all owners, thus A & B can claim the exemption from LTCG by investing jointly. Thanks

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