Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2014 dear friends
i want to know that we sale our land purchased in 1986 at cost of 22200 now sale it rs 1100000
now i want to purchase a new house in name of my wife. can i get a deduction in capital gain

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 February 2014 yes...normally house bought in wife's name is allowed for section 54 exemption.

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2014 dear not a normally give a correct answer

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 February 2014 dear querist,

in tax, it is normally only. tax assessments/litigation dont have given answers. they are based on facts of each case along with earlier judgments.

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2014 can u give me any cse law reference

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