Is it necessary the new property should be in assesse’s name to avail exeption paying LTCG?



I sold one property in my name in Jan08 and started constrction of new building in the name of son. May I exempted from paying LTCGT?

Is it necessary the new property should be in assesse’s name to avail exeption paying LTCG?
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2 Replies to “Is it necessary the new property should be in assesse’s name to avail exeption paying LTCG?”

  1. If it was your primary residence and you owned it for 5 years, I think you may be exempt. But if it was merely an investment property, be already to ante up.


  2. As per my opinion to avail exemption from paying Tax on LTCG u/s.54F the assessee must purchase or construct the residential house by investing the net consideration amount received on the sale of original assets and the new property must be purchased in his own name





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