Capital Gain
This query is : Resolved
18 December 2010
Respected Sir,
One of our client sold house property and amount trasfer to her husband by way of gift to build a hosue.
Amount received from relative is not taxable u/s 56(2), But whether she can claim exemption u/s 54 for capital gain.
Please reply at the earliest.
One of our client sold house property and amount trasfer to her husband by way of gift to build a hosue.
Amount received from relative is not taxable u/s 56(2), But whether she can claim exemption u/s 54 for capital gain.
Please reply at the earliest.
CA Kalpesh Gokani
(Expert)
18 December 2010
Exemption can be claimed if purchased in joint name..but only in single name of husband, exembptoin cant be claim...other openion should also be obtained..
CA Ayush Agarwal
(Expert)
18 December 2010
No Exemption is Not Available.
Available Only if Wife Purchase HP For Claiming Exemption u/s54.
Available Only if Wife Purchase HP For Claiming Exemption u/s54.
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