L.t.c.g.
This query is : Resolved
15 December 2012
Mr."A" has purchased a residential building before 10 years in the name of himself and her wife jointly at Rs. 10,00,000/-. The payment of Rs. 10,00,000/- was made by Mr. "A" himself. The residential property is appearing in the Balance sheet of Mr."A". The said property was sold at Rs. 20,00,000/-. Now Mr."A" wish to invest under capital gain account scheme, 1988. Now my question is :
Whether Mr."A" should invest in his name OR in joint name (i.e. in the name of Mr. "A" and her wife. Please note that the property is in joint name.
Whether Mr."A" should invest in his name OR in joint name (i.e. in the name of Mr. "A" and her wife. Please note that the property is in joint name.
15 December 2012
Hi
Ideally investment to be made in the name of First persons name, you can also invest in joint name.
Thanks
Ideally investment to be made in the name of First persons name, you can also invest in joint name.
Thanks
CA VISHNU GAVKARE
(Expert)
16 December 2012
Capital gain will be in the hands of a so investment shall be in the name of A, but it can be on joint name also.
Soumitra Basu
(Expert)
16 December 2012
FOR SAFEGUARD INVEST IN JOINT NAMES.
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