I am Co-owner in a property with 60% Share and 40% share is my wife. I sold my other property and purchased 40% share of my wife with Sale amount. Am I eligible for Capital Gain Exemption in any Section of Sec54
Shubham Jain (11 Points)
29 November 2021I am Co-owner in a property with 60% Share and 40% share is my wife. I sold my other property and purchased 40% share of my wife with Sale amount. Am I eligible for Capital Gain Exemption in any Section of Sec54
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174296 Points)
Replied 29 November 2021
TECHNICALLY POSSIBLE; BUT PRACTICALLY YOU WILL BE REQUIRED TO GO FOR APPEAL WITH HIGHER AUTHORITIES; AS ITO WILL DISALLOW IT AT FIRST STAGE.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174296 Points)
Replied 29 November 2021
AS PER ACT THERE IS NO SPECIFIC RESTRICTION, THAT IS THE MEANING IN TECHNICAL POSSIBILITY. BUT ITO WILL DISALLOW IT AS TRANSACTION BETWEEN HUSBAND & WIFE!!
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