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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- Annual return in Gst
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
