Section 54F Exemption if Asset purchased in name of Daughter

Share This Thread
  1. Anant Pandey

    Anant Pandey New Member

    Can an assessee buy the 'new asset' in the name of her daughter from the net consideration received from sale of a long term capital asset?
  2. Karan Batra

    Karan Batra Well-Known Member

    The person claiming the exemption should be the owner/co-owner of the new property as well to be eligible to claim exemption.

    In case you wish to purchase the new property in the name of your daughter - you can add her name as a co-owner. By doing this - you would be able to claim the exemption and your daughter will also become the owner of the property
Draft saved Draft deleted
Similar Threads Forum Date
exemption of income tax under section 10(26) Income Tax Feb 24, 2018
Section 54 Tax Exemption before Possession or Registration Income Tax Dec 19, 2017
Section 54 Exemption in case House purchased on Loan Income Tax Nov 27, 2017
Section 54 Exemption if House purchased from different persons Income Tax Nov 27, 2017
Can assessee claim exemption under section 54 for acquisition of more than one house? Income Tax Nov 17, 2017