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Capital gain deduction
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.
Replies (8)
Quick Summary
Yes deduction will be available
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
No need to refer any case law for that...
kindly Refer
First and second proviso to section 54(1)
and
Proviso to section 54F
You can take exemption as per 54 and
No you can't as the property purchased is in name of wife.
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
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
and in common parallel lines are also husband can purchase property in the name of wife
Not eligible
How come it's not eligible
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