Section 54 (capital gain)
This query is : Resolved
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?
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?
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.
22 February 2013
THE PART OF THE FLAT CANNOT BE TREATED AS FULL RESIDENTIAL UNIT.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
