banner_ad

Capital gain

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
21 July 2012 I purchased a small piece of land in the name of my wife in 1983 for Rs 1500/- Now I intended to sell the same for Rs 10 lacs. can she invest the money in 1. my name 2. jointly in the name of my daughter and self in purchasing a house. She is already having two houses in her name.Does the income tax attracts in such cases. Pl discuss the law position and I am greatful if any case laws are given.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
21 July 2012 Since she is already having 2 Residential Houses in her name, she can not get exemption U/s 54F by purchasing a third residential house in any mode or manner.
.
You may invest the capital gains U/s 54EC in Bonds of NHAI, REC etc.
.
Profile Image

CA Rahul Gupta

Profile Image

CA Rahul Gupta (Expert)
21 July 2012 Agree with above expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details