Longterm capital gain
This query is : Resolved
Manoj Pande
(Querist)
22 June 2014
Sir 1plot I sold in jun/14 on44lacs wich is Purchase in May 2004 in 2.20lacs.I already purchase 1 Res.house on 80% on my name &20% Wife name with Hosing Lone for tax benifit for both of us in jan2012.
My father is expired in 2011one House on his Name today If I give my Longterm capital gain Full amt to my 1Brother& 1Sister for left their Part on property. (Can I purchase their Hissa with paying full stamp duty with Registry in ragistar office ) In this case can I Claim capitalgain examption
My father is expired in 2011one House on his Name today If I give my Longterm capital gain Full amt to my 1Brother& 1Sister for left their Part on property. (Can I purchase their Hissa with paying full stamp duty with Registry in ragistar office ) In this case can I Claim capitalgain examption
Nikhil Kaushik
(Expert)
23 June 2014
you should be able to. given that you have only one residential asset on the day of sale of the plot.
Rupesh Jain
(Expert)
23 June 2014
you can bur the shares in house claim u/s 54F In which you but from all sale consideration of plot then you exempt from capital gain.
Manoj Pande
(Querist)
23 June 2014
Yes I have 1Res.House already .now this is 2nd House wich is my fathers name now I want to convert fathers house on my name (Brother & sisters Hissa official purchase by doing Registry with full stamduty paid ) Can I get Capital gain exemt
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