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Capital gain tax
Hello
Wife sold a residential property. Couple has purchased a new residential property with the name of husband. Will wife get any exemption in capital gain tax for new property?
Replies (3)
Exemption us 54 will be allowed.
Just because the property is purchased in joint name it does not prevent assesee from claiming exemption.
Thanks Studentsca.
The new property is not in joint name. It is registered with the name of husband.
Okay. You mentioned the new property was purchased WITH the name of husband so I thought she has purchased in joint name with her husband.
What you meant was that new property was purchased IN the name of her husband.
This is a bit complicated. Please wait for others to reply as what I had answered was on the basis of joint property assumption.
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