Construction of a house
This query is : Resolved
Hemali Shanghvi
(Querist)
18 April 2011
Hi,
My client has a plot of land in his name in Kolkata. He plans to construct a house there. His wife had a house in her name in Delhi which she sold. Now, is it possible that if she invests the amount in the construction of the above mentioned house can she claim tax relief under sec 54?
Thanks
My client has a plot of land in his name in Kolkata. He plans to construct a house there. His wife had a house in her name in Delhi which she sold. Now, is it possible that if she invests the amount in the construction of the above mentioned house can she claim tax relief under sec 54?
Thanks
CA MANOJ GUPTA
(Expert)
19 April 2011
yes she can provided she enters into an enabling agreement with her husband
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Hemali Shanghvi
(Querist)
25 April 2011
Thanks for the response, thats what I thought as well. But I wasnt sure where to get a draft of such enabling agreements. It would be great if you have a source and can share it with me.
Thanks again!!!
Thanks again!!!
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