Kamal Verma (Financial advisor) (582 Points)
03 February 2018Dear experts,
An assessy transfer jewellery during FY 2016-17 but could not utilise sale proceeds within stipulated time i.e. return filling date and deposit the entire amount in saving bank account, after return filling date, he opens a Long Term Capital Gain account and deposited whole consideration in it. Can he entitled to claim expemption u/s 54F??
Kamal Verma
(Financial advisor)
(582 Points)
Replied 03 February 2018
If an assessee sold long term capital assets and invested the consideration in house property owned by spouse. Can he entitled to claim exemption u/s 54F?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 03 February 2018
After return filling date, he opens a Long Term Capital Gain account and deposited whole consideration in it. Can he entitled to claim expemption u/s 54F??
Ans.: No
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 03 February 2018
Depends upon property registration...
Kamal Verma
(Financial advisor)
(582 Points)
Replied 03 February 2018
If the property is registered in the name of husband, and investment made by wife.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 03 February 2018
Not claimable, unless the investment is through husband's account.
Balaji Ramalingam
(Student - CA Final)
(285 Points)
Replied 04 February 2018
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