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LTCG ON RESIDENTIAL FLATS

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Hello Members 

My query is on LTCG on sale of flats

1. Wife has 2 flats which was used as self occupied but let out one flat about one year ago 

2. Husband has another flat in another state used as self occupied for 20 years now let out about 2 years ago 

The query is 

Can the the sales proceeds of the above 3 be reinvested in the joint names of husband & wife in another property  to avail relief of tax on LTCG 

 

Replies (3)
According to me
capital gain of each, is to be invested separately
in separate name.
Just keep share of the new flat according to value of old house in their name
Both will have to invest long term capital gain under 54 to take benefit of 54. So they have to take care of this.


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