27 April 2015
Recently I Have sold my house and Purchased new house in my wife name but home loan is done on my name and total payment done from my account. Please Gide me I am eligible for Capital Gain Exemption U/s. 54 or 54F. How?
27 April 2015
Income tax treats each individual separately. The sale proceedings from property owned by you attract Capital Gains tax. It is advisable to purchase new house in your name or on joint names of you and your wife and in such a case, the capital gains arising out of sale of house will not attract Capital Gains tax.