Mrs. X is having a capital gain of Rs. 50 lakh. To avoid that she decide to buy a residential house.
Can she buy it in the name of her married daughter to claim the exemption?
Can she buy it in the joint name of herself and her married daughter?
Thanks in advance
Deepak
No sh cannot purchase the house in hte name of her married daughter as only the assessee who has incurred th CG liability can take the exemption.
In the second case you can purchase the property in the joint name provided that first name is yours.
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
