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Question ID : 42276

Section 54 deduciton

An assessee has sold a house property and buying a new property to claim section 54 deduction. Can the new house be in joint name with his relative?

Posted by balasubramanian on May 09, 2022

Filed Under DIRECT TAXES

Answer ID : 81496

Yes as the funds are induced by assessee is mandatory. Deduction u/s 54 will be available

Posted by SANDEEP KAPOOR on May 19, 2022