Section 54F Exemption if Asset purchased in name of Daughter

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  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
     
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