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Business Standard

Invest in spouse or child's name to avail of exemption, say analysts

Both Sections 54 and 54F allow taxpayers to claim exemption from tax on long-term capital gains

Topics
Personal Finance  | Investments | tax exemption

Bindisha Sarang 

tax cut, corporate, investment, investors, taxes, india inc, company, firms, revenue, loss, profit, credit
Invest the entire sale consideration net of expenses towards purchasing a residential property.

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.

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First Published: Tue, April 13 2021. 06:10 IST

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