| Question And Answer | |
|---|---|
| Subject: | 54F.Capital gains- Investment in a residential house – |
| Category: | Income-Tax |
| Querist: | bs |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Capital Gains, investment in a residential house |
| Date: | June 15, 2023 |
gift of 2nd home to a relative is allowed ?
before selling a plot in open mkt with LTCG u/s 54F on plot sale ?
From what we understand from the limited facts provided, the assessee is gifting his second residential property to a relative so that the assessee can claim a deduction under section 54F of the Act when the assessee sells a plot of land. The same appears to be permissible as per the law. Courts have upheld tax planning while claiming an exemption from Capital Gains.
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