exemption under section 54

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..... Dear Sir, The query is regarding the claim of exemption under section 54 in the case of the HUF. Q No.1.Can an HUF claim exemption by investing the sale proceeds for purchase of residential hous .....

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..... e in the name of the all the members of the HUF insteadaed of Karta. Q No.2. Can the HUF claim exemption u/s 54 for investment for purchase of more than one residential houses separately in the na .....

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..... me of the members to provide them separate dwelling unit. - Reply By CA GOPALJI AGRAWAL - The Reply = To my view. the property must be purchased in the name of HUF only since under the income tax, i .....

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..... ndividual and HUF are two different persons. If the capital gains arise in the hands of HUF, the investment must be in the name of HUF. Of course the Karta would execute the transfer documents on beh .....

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..... laf of HUF. HUF can purchase more than one property out of capital gain but again in its own name and not in the name of members. - Reply By Rakesh Bansal - The Reply = Sir, my next question i .....

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..... s whether the HUF will be eligible to claim exemption in respect of all the houses or any one out of all. - Reply By CA GOPALJI AGRAWAL - The Reply = for all the houses. - exemption under section 5 .....

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..... 4 - Query Started By: - Rakesh Bansal Dated:- 16-9-2012 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management Indi .....

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..... a - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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