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House Property Calculation

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24 Points Posted on 17 August 2020
A Women Who Government Employee
sell Property And Received RS.1700000/-

Now They Purchase New Property In Name Of Sons Wife for Benefit Of Stamp Duty,Subsidy And Other Benefits.

Is She Eligible For Tax
if Yes how Much ?
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On 17 August 2020 at 17:51 Report
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Founder of IndiaITR.com
184 Points Posted on 17 August 2020

No, she is not eligible for tax benefit. As property is purchase in another name and tax is to be paid on different name.

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On 17 August 2020 at 18:18
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24 Points Posted on 17 August 2020
If she Purchase New Property Own Name then She Claim Benefit Of Subsidy
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On 17 August 2020 at 18:21
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Founder of IndiaITR.com
184 Points Posted on 17 August 2020

What I meant is tax benefit, not the subsidy. Govt subsidy on interest on purchase of new house property is different issue.

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On 17 August 2020 at 18:24
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24 Points Posted on 17 August 2020
Ok
how Much Tax Payable For That ?
if She Purchase New House,
is there benefit U/s 54.
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On 17 August 2020 at 18:44
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721 Points Posted on 17 August 2020
In my view , the benefit of section 54 wont be available as new house in different name
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On 17 August 2020 at 19:27
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Article
207 Points Posted on 17 August 2020
@ Dharmik Prajapati

which property sale ? like - Land , Building.....
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On 17 August 2020 at 19:29
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24 Points Posted on 18 August 2020
A House Sold And Received Cheque Of Rs 1700000
new Home Loan for Purchase New House .
owing Her Name or Sons Wife
which Is Befecial ?
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On 18 August 2020 at 08:30
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Article
207 Points Posted on 18 August 2020
@ Mr. Dharmik

New house purchase for her name take benefits of sec. 54.
while if you take benefits like :- Govt. subsidy on home loan, than new house purchase name of sons wife.
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On 18 August 2020 at 09:57
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24 Points Posted on 18 August 2020
It Means If We Claim Benifit u.s 54.
we Can't Aaply For Govt. Subsidy.
Any One Of Claim ?
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On 18 August 2020 at 10:37
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Article
207 Points Posted on 18 August 2020
Govt. subsidy receive only one time on first house purchase.
you can apply, if you are eligible than you received otherwise no.
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On 18 August 2020 at 13:38
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24 Points Posted on 20 August 2020
Thanks All,
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On 20 August 2020 at 09:48


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