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Purchase of New house
Sir, I bought a new house in name of my wife in Nov20. I will sell my old house in my name within 3 months and use it for the new house. will I her capital exemption even though the new house is I my wifes name. also what is the time period within which I have to sell the new house. please give advise.
Replies (3)
Quick Summary
Exemption is possible if u are the joint owner of the previous house.
Otherwise not.
First confirm.
Time frame is also important.
Otherwise not.
First confirm.
Time frame is also important.
You wont be able to claim exemption if you sell the house in your name as the new house is in your wife name
If you are thinking of buying a house, you should think about how you can choose the best mortgage advisor.
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