kushal (Bcom, CA, CS Final) (47 Points)
23 March 2013Guys, i am having a doubt regarding section 54F exemption from LTCG.
If " A" an assesse has sold the house property and to claim an exemption u/s 54F. he purchased the residential house property and there are co-owners "A" and his son "B".
My question is whether assesse "A" can claim the full amount of exemption.
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 23 March 2013
Hello Kushal,
In my opinion, if his son is not minor, Mr. A can claim exemption only upto his part u/s 54 F
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