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Q. > Please Help: Capital Gain
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432 views • Question added Oct 11, 2015 • Income Tax • By ravi


Can husband claimed exception 54F, if property which is sold in the name of wife and new property purchased in the name of husband. spouse is a housewife. thanks.....

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ATIT D. SHAH

16-Oct-2015 , 11:12:19 pm

No, act doesn't allows so, however there may be case law for the same

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Rohin Garg

26-Oct-2015 , 04:31:45 pm

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CA. Aishwarya Sarawgi

30-Oct-2015 , 12:38:19 pm

Yes husband can claim exemption u/s 54F. The act does not specify that the new residential house shall be purchased exclusively in the name of the assessee., it only requires that assessee shall purchase or construct the new residential house with in time limit prescribed in the act. For further details you may refer CIT vs. Kaml Wahal (2013) 351 ITR 4 (Delhi).

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