Capital gains
This query is : Resolved
10 September 2011
if 2 partners own a house , andthe house is being sold,can each partner buy one house and each get exemption from capital gains???
10 September 2011
YES.. BOTH OWNERS CAN CLAIM U/S 54 TO THE EXTENT OF THEIR SHARE IN CAPITAL GAIN.
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10 September 2011
Yes ,provided the house property sold is long term and other conditions as in section 54 is satisficed.
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11 September 2011
yes both can claim exemption as per section 54
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12 September 2011
thank u so much all.........but how to prove they are partners and whiich is city is best to invest in for rental income ......if i get 50 lacs from selling an old house ,what is the best type of investment!!!thank u all once again!!!to all u wonderful ppl
13 September 2011
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