 "Invest in spouse or child’s name to avail of exemption, say analysts")
The Income-Tax Appellate Tribunal (ITAT) Jaipur last week allowed exemption under Section 54F of the Income-Tax (I-T) Act on a residential house property purchased in the wife’s name. Last month, in another ruling, a similar exemption was granted by ITAT Bengaluru on the purchase of a residential house in the daughter’s name.
Vivek Jalan of Tax Connect Advisory Services LLP, a multidisciplinary consulting firm, says, “If you have made capital gains, you can avail of exemptions under Sections 54 and 54F by investing the capital gains in a new house property, subject to conditions. One condition is that the
Vivek Jalan of Tax Connect Advisory Services LLP, a multidisciplinary consulting firm, says, “If you have made capital gains, you can avail of exemptions under Sections 54 and 54F by investing the capital gains in a new house property, subject to conditions. One condition is that the
