Question ID :
WHETHER EXEMPTION U/S 54 IS ELIGIBLE?
Assessee is an Individual aged about 72 years during the financial year 2019-2020, she transferred a residential house property and purchased two other residential properties within the same financial year.
But the properties acquired were in the name of her son and the sources for acquisition were transferred from her bank account to the sellers accounts.
Now, the query is whether she can claim exemption under section 54 for the LTCG on the sale of residential house property.
D R V NARENDRA REDDY
Aug 1 2020 12:00AM