Hello,
My client single owner of flat (i.e wife) has sold the flat in 04/08/2018 for Rs.10300000/- and from sale amount she further purchased the flat in joint names for their self occupied purpose (i.e in the names of Husband and wife) in 28/08/2018 for Rs.13000000/-. Long Term Capital Gain Before exemption is Rs. 9628000/-. I want to calculate the Long Term capital Gain tax of my client (i.e wife) for AY 2019-20. My queries related to the same is given below:-
1. How much amount to be claimed u/s.54 purchase of new residential house (i.e 50% of her share Flat Purchase amount of 100% including husband share).
2. Is it necessary to file income tax return of her husband as he has just purchase the flat.
Kindly Suggest me.
CAclubindia
