Income Tax ,Capital Gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 January 2011
Dear Sir,
I have a query regarding capital gain exemption, A person sales a plot against rs. 5 Lacs in F.Y.2009-10 & capital gain arised for rs.3 lacs.He has constructed a house on his wife's plot.& has made a payment against construction of house of Rs 8 lacs in F.Y.2009-10 by his bank account.&Rs Rs.5 lacs in f.y.2010-11.
Is he eligible to take exemption on house constructed on his wife's ownership plot.
Please give me your valuable advice.
THANKING YOU
A. JAIN
I have a query regarding capital gain exemption, A person sales a plot against rs. 5 Lacs in F.Y.2009-10 & capital gain arised for rs.3 lacs.He has constructed a house on his wife's plot.& has made a payment against construction of house of Rs 8 lacs in F.Y.2009-10 by his bank account.&Rs Rs.5 lacs in f.y.2010-11.
Is he eligible to take exemption on house constructed on his wife's ownership plot.
Please give me your valuable advice.
THANKING YOU
A. JAIN
20 January 2011
Yes, he is eligible to get capital gain exemption U/s 54F. He should obtain written consent for construction on her land, from wife on Stamp Paper of required denomination.
Message likes :
1 times
21 January 2011
yes he is eligible for the exemption
21 January 2011
Yes. Please check the following link---
https://taxworry.com/claim-capital-gains-exemption-us-54/
https://taxworry.com/claim-capital-gains-exemption-us-54/
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- ITR 4 and Bank transactions
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- HOUSING LOAN ISSUE
- Sec 44ada applicable only or both
- RELATED TO TRIBUNAL APPEAL
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
