Regarding sale of property- capital gain
This query is : Resolved
20 March 2023
My clinet's mother sale her property in land and invest that amount to buy a house property for her son. The purchased residential house is in the name of her son. Can she claim capital gain investment benefit under section 54f
20 March 2023
The exemption u/s. 54F can be claimed, if the investment in HP property can be authenticated by payment proof paid by the lady.
21 March 2023
The son has bought the property in the last financial year by taking a home loan.
The sale proceeds of mother have been transferred to Sons bank account through which he paid the home loan EMI's in one shot
The sale proceeds of mother have been transferred to Sons bank account through which he paid the home loan EMI's in one shot
21 March 2023
These transactions do not reflect the investment by mother to claim said exemption.
21 March 2023
ok, Thank You So mUch Sir.
21 March 2023
You are welcome.
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