Menu
capital gain jointly and re invest single assesee
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
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
