| Question And Answer | |
|---|---|
| Subject: | Long term capital gain 54F |
| Category: | Income-Tax |
| Querist: | Venkat |
| Answered by: | Law Intern |
| Tags: | Exemption u/s 54EC |
| Date: | August 1, 2026 |
I am retired employee not working for the past few years. I sold some shares alloted from my company and used such funds to avail long term capital gain under 54 F.
the property is under construction by the builder and got registered on my wife name, since I am not eligible to get any home loan, she is taxpayer, having an option to get home loan against property based on her financial eligibility norms.
The property got registered on her name during Oct 2025 and funds sourced 25% from the bank and balance amount transferring from my account, shares sold in the year 2025 partially and 2026 still on going. Property handing over will complete within three years from the date of registration i.e 2025.
while I am filing IT returns any objection will arise, under clause 54 F .
While my wife IT returns submission, we have not shown any benefit or utilised IT sections. She submitted ITR 1 as an employee.
Request to provide needful solution to avail the benefit.
Regards.
The fact that the property is registered in the name of the wife should not be a bar as the same was done for convenience and to obtain a loan. What is important is that the funds of the taxpayer claiming exemption u/s 54F have been used for the construction of the property.
However, there are divergent views on the issue which are considered in detail at Investment in the name of Son, exemption?