https://www.taxtmi.com/circulars?id=9098 The instruction clarifies that the capital gains exemption for transfer of a residential house under section 54 is limited to the individual assessee who personally used the property for residence and satisfied the statutory purchase or construction time limits; the phrase referring to use "by the assessee or a parent of his family for purpose of his or the parents' own residence" cannot be read to extend the relief to Hindu Undivided Families. en-us Wed, 03 Aug 1977 00:00:00 +0530 Thu, 02 Jun 2011 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9098 The instruction clarifies that the capital gains exemption for transfer of a residential house under section 54 is limited to the individual assessee who personally used the property for residence and satisfied the statutory purchase or construction time limits; the phrase referring to use "by the assessee or a parent of his family for purpose of his or the parents' own residence" cannot be read to extend the relief to Hindu Undivided Families. Circulars Income Tax Wed, 03 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9098