Capital Gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2009
If a house is in name of Mother & Son No.1.
Now if they sell the house(long term capital gains) and invest in a new house within 6 months but in name of Son No.2, as he is to bear the loan for the same.
Can he(son No.1 & mother) avail any deductions under sub-sections 50 to 54F.
How can they take benfit of these deductions??
Now if they sell the house(long term capital gains) and invest in a new house within 6 months but in name of Son No.2, as he is to bear the loan for the same.
Can he(son No.1 & mother) avail any deductions under sub-sections 50 to 54F.
How can they take benfit of these deductions??
20 December 2009
no benifit, deduction would have been available had the house was bought in the names of sellers
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