|Question And Answer|
|Subject:||54F.Capital gains- Investment in a residential house –|
|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.