Capital gains on sale of house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2017
Hello,
My uncle sold the house property in 2011 and purchased the residential house property in his wife name.Now my question is can he claim capital gain exemption u/s 54 even he purchase the new house property in his wife name.Actually the sale amount is lesser compared to purchase value of new property.Whether he has to show all the details in his income tax return or not.
My uncle sold the house property in 2011 and purchased the residential house property in his wife name.Now my question is can he claim capital gain exemption u/s 54 even he purchase the new house property in his wife name.Actually the sale amount is lesser compared to purchase value of new property.Whether he has to show all the details in his income tax return or not.
10 February 2017
It's a tricky one but you can take help of Delhi High Court's judgements in the case of CIT Vs Kamal Wahal and CIT Vs Ravinder Kumar Arora.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Royalty payments to the Mining Department for procurement of murum - GST input
- Capital gains in IT returns
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
