i think amir is correct.
the section 54 gives the exemption for the utilization of the money
the ssection 54f gives the exemption only if the utilisation and the ownership in the name of the concerned assessee are satisfied.
capital gain on house
Page no : 2
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 07 July 2010
dear friend
i think if son is minor then there will be no problem regarding exemption but if son is major i think the case and explanation submitted by friend amir is right. i also never heard that ownership shoulb be in assesse name so he can claim exemption in this case.
regards
tarun rustagi
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 07 July 2010
dear friend
i think if son is minor then there will be no problem regarding exemption but if son is major i think the case and explanation submitted by friend amir is right. i also never heard that ownership shoulb be in assesse name so he can claim exemption in this case.
regards
tarun rustagi
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 07 July 2010
dear friend
i think if son is minor then there will be no problem regarding exemption but if son is major i think the case and explanation submitted by friend amir is right. i also never heard that ownership shoulb be in assesse name so he can claim exemption in this case.
regards
tarun rustagi
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