Capital Gains
This query is : Resolved
03 November 2009
Hi,
Can one buy spouse's property to claim exemption u/s 54F???
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
agree
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
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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