Capital gain
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 April 2013
If land inherited by wife is gifted to husband and the land is sold by the husband , whether these capital gain will attract clubbing provision under Income tax . I need the urgent advise from Expert on this matter
25 May 2013
Yes u/s 64 clubbing will be done and the income is to be assessed in the hands of the wife. The maximum limit is 50000/-
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2013
But if husband invest full net sale consideration in New property then the capital gain which is being earned is exempt from tax, then also it should be assessed in wife hand ?
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