Sec.54&54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 August 2015
Sir, Wife got Rs.50,00,0000. as LTCG and Invested in a property in her husband name 40,00,000. Whether she can claim sec.54 or 54f& What was the tax effect.
30 August 2015
exemption u/s 54 or 54F will depend upon the asset sold. If asset sold is residential house property than it will qualify for section 54 and if other than residential property it will qualify for section 54F. Wife invested in husbmand's name. It is debatable whether wife will get exemption for investment in husband's name. One will have to look for case laws in this regard.
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
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- NON- SUBMISSION OF LLP FORM 3
- What is provisional receipt number for generation of form 16A
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Last year TDS Claim
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
