Answers On Topic: exemption 54F
1] if it pertains to section 54, what is the taxability after 3 years ? 2] if it pertains to section 54F, what is the taxability after 3 years ? can another flat be claimed against this in 4h year ?
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My father sold a land property on his name and purchased a flat on his name with entire sale consideration. Now, Section 54F says he should not sell it within three year But can he gift the flat through gift deed in my name or should we wait for three years for gift transaction also? References of relevant cases will help a lot. Thanks.
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