If im the joint owner(me and my father) of any other asset other than residential house and want to sell it to buy a residential house in our joint name, can i claim the exemption u/s 54F wholly in my name though im the joint owner of the old asset? If yes, is there any case law relating to this decision?please quote it for my reference.
1 Replies
vaibhav
(M.Com. CA )
(178 Points)
Replied 28 October 2009
Dear ,
In my opinion u cant avail entire exemption u/s 54 F .
u can claim exemption to the extent of ur share in the acquired joint property
vaibhav
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