Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

capital gain

priyankagupta (article) (361 Points)

26 June 2018

Husband & "wife both sell plot. & in return purchased one agriculture land in the name if wife. How exemtion should be claimed in the return of husband.

Reply
Follow
Share

4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194785 Points)
Replied 26 June 2018

When both sell plot, whether the plot is agricultural land?

If no, both will be liable for capital gains tax...... though wife purchased agri land....

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

saurabh sawlani (Self employed ) (2193 Points)
Replied 26 June 2018

if yes u can claim exemption u/s 54B

priyankagupta (article) (361 Points)
Replied 26 June 2018

Can be not claimed either section 54EC or SEC 54f and can be deposit in capital gain scheme to purchase another house property before filing the return to purchase another house in exchange of such property

rama krishnan (12244 Points)
Replied 27 June 2018

you can claim deduction on sale of plot if you invest the net sale consideration in residential property or invest the capital gain amount in 54ec bonds

1 Like