28 October 2010
Can exemption u/s 54F is available in a situation where two assessess have Long Term Capital Gain and both puchases a single flat jointly. Is exemption is available to both the assessees for their individual share
29 October 2010
See , you have to invest the money in purchasing of new residential property. Act nothing say else. This means , what ever amount will be invested for this purpose , that will be exepted.
29 October 2010
There is no direct decesion for section 54F for investment by joint owners, but there are various court decision for section 54, from which one can take an help in claiming the capital gain exemption u/s 54F also.
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