Capital gain
This query is : Resolved
Querist : Anonymous
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.
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.
.
.
You may invest the capital gains U/s 54EC in Bonds of NHAI, REC etc.
.
21 July 2012
Agree with above expert
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