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Capital gains tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2017 Respected Sirs
Whether capital gains tax arising form the sale of an urban property belonging to a wife can be adjusted in building a house on an rural agricultural land belonging to the husband. (with the permission of the gram panchayat) Please clarify the same with the appropriate provisions of law.
Thank you.

vaibhav singhi

vaibhav singhi (Expert)
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31 August 2017 Yes it can be adjusted, just make sure that new house is in name of Wife.

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2017 Respected Sir
With reference to your reply above, kindly clarify whether the rural land belonging to the husband needs to be transferred in the name of the wife. or whether mere construction of the house building in the name of the wife would suffice

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