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Capital gains tax in sale and purchase of property

Tax queries 257 views 3 replies

In case mr. A and his wife have sold one property (jointly held) for say rs. 40 lac and then have purchased another property jointly along with their son (A, wife and their son) worth Rs. 1.20 crs where say 90 lac has been taken as loan by the son and remaining 30 lac paid by mr A and the stamp duty and registration combined 10 lac again by Mr. A. Whether the stamp duty and society registration is also considered as reinvestment or the same is taxable under capital gains for mr A.????

Replies (3)

Yes It is part and parcel of the investment. Total investment from both will be considered 40 lakhs (provided from joint acc/  or by both proportionately)  .......... no capital gain tax liability over the couple...

Thanks sir for your reply.

Most Welcome


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