Income Tax ,Capital Gain
Querist : Anonymous
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
https://taxworry.com/claim-capital-gains-exemption-us-54/
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