LTCG ON RESIDENTIAL FLATS

V K Vijayaraghavan (PRACTICE) (186 Points)

04 January 2021  

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