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husband and wife sold two seperate flats registered on their own name and after sale they purchased one single flat..is both capital gain can be eligible for deduction u/s 54F for purchase for new single flat
Replies (2)
Yes........ Exemption u/s. 54 can be claimed, provided both contributed their shares in the new flat, with their shares clearly defined in the purchase deed.....
Yes I think they both can claim deduction upto their share in new flat as per deed and the remaining amount of profit on sale of old flat will become taxable after deducting their share in new flat
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