banner_ad

Deduction from long term capital gain

This query is : Open 
Profile Image

Profile Image

(Querist)
29 July 2011 A salaried person sold a property for Rs. 728807/- on 18/10/2010 and purchase a residential property in the name of his Wife on 07/01/2011 for Rs. 1900000/-.

Pls explain can he claim deduction under section 54 for his ITR
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
29 July 2011 Yes but in his balance sheet the property should appear by stating in the name of wife or he may incorporate this in the sale deed or purchase deed.
Profile Image

CA. Naveen Jain

Profile Image

CA. Naveen Jain (Querist)
29 July 2011 Sir the person is Salaried and has bank account in the joint name with his wife.
CAn he still claim deduction. As the sold property was in his name and Purchase property in the name of his wife
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details