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Capital gain

This query is : Resolved 
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(Querist)
28 December 2012 Hi,
I have purchased a Flat in Joint name of Me and my wife.
I am selling this flat and purchasing a new flat in my name only.

For this flat we have taken a loan but I have paid all the money either stamp duty/Reg charges or loan money through my salary account only.

Can capital gain for this flat be fully exempted in the hand of me & my wife...
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Rupesh Jain

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Rupesh Jain (Expert)
03 January 2013 you can claim of exemption of capital gain but you have to prove that selling house all amount paid from your a/c.

other wise AO may assume 50% -50% gain of each a/c and if capital gain arise . then your wife to pay all capital gain tax
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