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Capital gain

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(Querist)
17 December 2015 please friends-reply urgently for the following query

I have two residential houses out of which one sold at 1.10.2015, the capital gain arise from the sold house property i want to invest in two residential houses
i want to buy one property jointly owned with my son and 2nd one with my daughter.
can i get the exemption of the capital gain which i want to invest ?
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 December 2015 Yes, you can get the exemption u/s 54. One can always put the second name for his/her family convenience.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 December 2015 Exemption will be denied because reinvestment is permitted only in ONE residential house w.e.f 1-4-2015.




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