Capital gain exemption in case of joint holder
This query is : Resolved
Puneet Jain
(Querist)
17 July 2020
If a house property is in name of mother and son with equal share and they sell the property on which there is a capital gain of rs 22 lakh which is to be shared equally between them. After this a house property is bought in the name of mother only using the amount received on sale. What will be tax implication in the hand of son and will he eligible for any exemption keeping in mind that the new property bought is in the name of mother only??
18 July 2020
Capital gains attracts to son because he has not made any tax saving investment in his own name.
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