Capital gain excemption

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Naveen (Querist)
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02 March 2012 HI,
I would like to know if there is any Capital gain exception on the below Query.

My wife sold a vacant land and the amount was invested in buying other vacant land on my name kindly suggest.

Thanks,
Naveen
naveenibm@yahoo.com

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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02 March 2012 No exemption is available for purchase of a non-agriculture land against the sale of a vacant land ,which is also non-Agri. Land.

Capital Gains arising on sale of the land will be taxable.

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Naveen

Naveen (Querist)
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03 March 2012 Sir thanks for your sincere reply i just wanted to know if i can buy a site only on my name from the money got from the site sold by my wife if so can you please give more details on this

Thanks in advance

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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03 March 2012 For buying a property you require money and for that you may take it from your wife as a loan by an account payee cheque.
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