Regarding section 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2013
In case a husband gifts jewellery to his wife in FY 04-05 and then in the FY 11-12, the jewellery is sold and a house property is purchased in joint name of husband and wife,what will be the tax implication in the hands of husband and wife?Please help.
06 January 2013
Is there any proof on record that husband has given such gift ?
.
In the situation mentioned by you, the capital gains income can be shown in the hands of husband only. However, benefit U/s 54F can be claimed by the Husband in respect of the new house purchased in joint names.
.
.
In the situation mentioned by you, the capital gains income can be shown in the hands of husband only. However, benefit U/s 54F can be claimed by the Husband in respect of the new house purchased in joint names.
.
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
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- REGARDING ITR FILING QUESTION
- Gst reverse charge mechanism to be claimed in the month of payment
- ITR 44AD SECTION
- ITC BENEFIT ON BROKRAGE PAID
- Itr processing refund
- F&O reporting in ITR
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
