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Capital Gains

This query is : Resolved 

03 November 2009 Hi,

Can one buy spouse's property to claim exemption u/s 54F???

03 November 2009 No bar provided other conditions of section 54F is satisfied.


03 November 2009 Can the income tax officer raise this as a claim if the sale consideration is higher than the guideline value?

03 November 2009 NO SUCH CLAIM ,
IF SALES CONSIDERATION IS MORE THAN SAME WILL BE LIABLE TO CAP GAIN IN HAND OF SPOUSE ,
IF SALES CONSIDERATION IS LOWER THE RATE OF STAMP DUTY VALUATION THAN HE MAY ADOPT THE RATE OF STAMP DUTY VALUATION RATE.

HOWEVER IF HIGHER SALE CONSIDERATION THERE IS NO SUCH RESTRICTIONS

03 November 2009 Thank you everyone :-)


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