Capital gains - long term
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2012
If an Assessee having a House Property. And the assessee sell the house property & buy a new property in the name of his son then who will be liable to pay income tax & is any exemption for it?
07 January 2012
If assessee sale a residential house property and again purchase with in 2 year or construct the house property with 3 year than he will avail the benefit of sec 54. but the property should remain with him for 3 years. if new property cost is higher than the capital gain than full exemption is available. house property shall be purchase in the name of assessee only.
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