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T1978 (SPSE)     15 July 2019

Capital gains adjustment

I sold a property (single name) and used the money to buy another property in joint name (more than 2 joint owners) in the same financial year. All the money received from the sale of property was used in purchase of the joint property.

Now I would like to know can whole of the capital gain from sale of property be adjusted against the purchase of property in joint name ?

 2 Replies

Sivaramaraju G

Sivaramaraju G (Learner)     15 July 2019

Yes, you can
Mehul porwal

Mehul porwal   16 July 2019

Yes it is allowed to adjust whole of capital gain if you have invested whole of consideration received. sec 54.

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