deduction u/s 54
This query is : Open
02 December 2010
Mr. X - Owner of Residential House Property since 1981-82 gifted the said property to Mrs. X in 2002-03. This house property is proposed to be sold in 2010-11.
Please, assume that all other condition of section 54 are fulfilled.
In whose name Cap. Gain would be taxed ?
For Claiming Exemption u/s. 54 how & in whose name Investment in new Residential House Property should be made ?
Shall it do if new investment (Residential House Property) is made by Mrs. X only because sales proceeds will be received by Mrs. X ?
Deduction u/s.54 is to be claimed by Mr X & we do not want to add Mr X's name in the new property. Is it possible ?
Please, assume that all other condition of section 54 are fulfilled.
In whose name Cap. Gain would be taxed ?
For Claiming Exemption u/s. 54 how & in whose name Investment in new Residential House Property should be made ?
Shall it do if new investment (Residential House Property) is made by Mrs. X only because sales proceeds will be received by Mrs. X ?
Deduction u/s.54 is to be claimed by Mr X & we do not want to add Mr X's name in the new property. Is it possible ?
06 December 2010
First of all make it clear weather the gift was given by mr. x to mrs.x was through the registerd transfer or by way of only gift deed. this is ery important to decide the legal ownership of that property.
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
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Rent lease agreement
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
