Provisions of long term capital gains
This query is : Resolved
Tushar Lakhanpal
(Querist)
19 March 2017
Dear All,
A friend of mine sold a property in July 2016 and had a long term gains of Rs. 7 Lacs (after applying indexation provisions) & he purchased another property on the same date for Rs. 9.00 Lacs in the name of his wife, she is a housewife.
Now please answer Whether he can claim the exemption for property purchased in the name of his wife ??
A friend of mine sold a property in July 2016 and had a long term gains of Rs. 7 Lacs (after applying indexation provisions) & he purchased another property on the same date for Rs. 9.00 Lacs in the name of his wife, she is a housewife.
Now please answer Whether he can claim the exemption for property purchased in the name of his wife ??
19 March 2017
To claim exemption, the Capital Gains arising from the sale of Land should be reinvested in his name itself and not in his wife's name.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
