banner_ad

Capital gain deduction

260 views 8 replies
User Avatar

4 Points Joined February 2019
A husband have 3 house property, he sells one out of this and purchase another house in the name of his wife for the purpose of claiming deduction of capital gain and paid the amount himself . Is he eligible for deduction under section 54 or 54f .Provide the case law as well.
0 Reply Share Follow
On 18 January 2021 at 13:39 Report
Replies (8)
User Avatar

Chartered Accountant
24588 Points Joined November 2019
Yes deduction will be available
Reply
On 18 January 2021 at 14:14
User Avatar

215 Points Joined April 2017
No deduction is available under both of the sections...

No need to refer any case law for that...

kindly Refer
First and second proviso to section 54(1)
and
Proviso to section 54F
Reply
On 18 January 2021 at 15:29
User Avatar

Tax consultant
5895 Points Joined September 2020
You can take exemption as per 54 and
Reply
On 18 January 2021 at 20:11
User Avatar

Chartered Accountant
86505 Points Joined April 2011
No you can't as the property purchased is in name of wife.
Reply
On 19 January 2021 at 04:02
User Avatar

Tax consultant
5895 Points Joined September 2020

you can take exemption as per 54 and 54F
if you reinvestment the money in your wife name also in purchase of another house along with the terms and conditions of section as per Chennai and delhi court orders regarding such cases
sorry above is post half way  while typing 

Reply
On 19 January 2021 at 07:18
User Avatar

Accountant
4533 Points Joined February 2017
Yes deduction can be claimed since husband and wife are treated as 1 for capital gain
and in common parallel lines are also husband can purchase property in the name of wife
3 Reply
On 23 January 2021 at 23:51
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Not eligible
Reply
On 23 January 2021 at 23:53
User Avatar

Tax consultant
5895 Points Joined September 2020
How come it's not eligible
Reply
On 24 January 2021 at 08:57

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details