Capital gain excemption
This query is : Resolved
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
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
(Expert)
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.
Capital Gains arising on sale of the land will be taxable.
Message likes :
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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
Thanks in advance
CA PARAS BAFNA
(Expert)
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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