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Section 54 (capital gain)

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(Querist)
20 February 2013 hello,
A wife purchased a flat for Rs.98000 and now she have sold that flat for Rs. 3000000 Her husband is already having a flat which have loan of Rs. 3000000 is it allowed that if a husband sell a part of his flat to his wife so that wife can get exemption u/s 54 and a husband can repay the loan amount.?
or is there any other solution for this situation?
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NITIN SHARMA

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NITIN SHARMA (Expert)
22 February 2013 As far as the section 54f is concern it does not specify to whom house property should be purchse od to whom can not be purchase. Therefore in my openion she can purchase house propery from his husband. But she and her husband can not avail the benifit of repayment of loan.
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Soumitra Basu

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Soumitra Basu (Expert)
22 February 2013 THE PART OF THE FLAT CANNOT BE TREATED AS FULL RESIDENTIAL UNIT.
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