i want to sale my ancestral property, house, godown etc. where should i reinvest the money so recieved ? can i purchase a house in the name of my son's wife ? Or in whose name can i purchase house ?
To avail any long term capital gains tax deduction (u/s. 54/ 54F), you should be there as co-owner along with your DIL while purchasing new house property.
actualy i am karta of my HUF and the property is inthe name of the HUF. Now let me know (1) weather my son's wife is member of my HUF or Not ? Can I purchase new house in her name in this case or even now i will have to puchase jointly with her.