30 March 2014
can a assessee gift amount of capital gain to his son for getting exemption under this section? and after gift son invested that amount for purchasing new house for getting exemption under this section. Please reply as early as possible. ..
30 March 2014
No this provisions shall be allowed only to the owner and not to your son who is not the owner. Gift made by you after you have sold the property and the tax is on the property. So you cannot do so.
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