Question And Answer
Subject: 54F.Capital gains- Investment in a residential house –
Querist: bs
Answered by:
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Date: June 15, 2023
Query asked by bs

gift of 2nd home to a relative is allowed ?

before selling a plot in open mkt  with LTCG  u/s 54F on plot sale ?

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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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