• Exemption on buying Capital bonds

In 2005 I have purchased a plot out of my own income in my daughter's name who was a student then. Recently I have sold the land.Now my daughter is a major, stays abroad, not an income tax assesee in India. My query is whether the proceeds of LTCG arising out of sale can be invested in Capital bonds in my name for tax exemption or should they be invested necessarily in my daughter's name.
Asked 1 year ago in Capital Gains Tax from Rourkela, Odisha
Hello Sir,

As the plot of land was in the name of your daughter, it is advised to invest the proceeds in your daughters name only and not in your personal name.

Trust this clarifies your query. 

Feel free to call / get back in case of further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

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These type of transactions are always litigious. but, you can deposit in your daughter's name.
Abhishek Dugar
CA, Mumbai
2936 Answers
123 Consultations

5.0 on 5.0

You can invest in your name and put nominee as daughter
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

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Dear Concern,

You can claim exemption under section 54EC if you invest the same in the name of your daughter.

For any further clarification feel free to contact us.
Shiv Kumar Agarwal
CA, Delhi
258 Answers
58 Consultations

5.0 on 5.0

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