Long term capital gain
This query is : Resolved
30 December 2011
I v a client.
Father and his Son
Father has LTCG fm sale of Flat = 66 Lacs and
Son has LTCG fm sale of another flat = 60 Lacs.
Can a new flat of Rs. 125L can be bought by joint name of father and son to use this capital gain of both.
Father and his Son
Father has LTCG fm sale of Flat = 66 Lacs and
Son has LTCG fm sale of another flat = 60 Lacs.
Can a new flat of Rs. 125L can be bought by joint name of father and son to use this capital gain of both.
CA PARAS BAFNA
(Expert)
30 December 2011
They may claim deduction according to their share in the co-owned house. They must decide/describe share in the new residential property.
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