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capital gain jointly and re invest single assesee

Others 257 views 2 replies
hello experts i have one client who sale his plot of land in financial year 2018-19 which is jointly registered name with his wife so now they sale so I compute ltcg and decide 1/2 between them but now assesee reinvest and buy one residential house on his own name alone so I give him exemption under section 54 f but not any exemption given his wife so assessed has capital loss and wife has capital gain as per my opinion i compute accurate please suggest me m doing right or wrong actually m fresher so more conscious and afraid of mistakes about all this topics thank u advance for everyone who help me a lot for everyday my query
Replies (2)

Yes, right..Wife will be liable for LTCG tax over share of her gain.

Assessee can get exemption u/s. 54F for his share of capital gain, for the total amount of investment. (No loss)

thank you very much sir


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