Me and my mother are selling different residential properties and plan to purchase 1 flat in both our names (Joint ownership)
can we both save and claim LTCG accrued during the sale.
Menu
Purchase of property to save LTCG
Replies (6)
Yes both will be able to claim Deduction under section 54 to the extent of respective LTCG of old properties
( provided new joint property ratio supports the individual claim under 54)
( provided new joint property ratio supports the individual claim under 54)
Yes you can claim definitely in the ratio of ownership of new property
Yes u can as per sec 54
Yes you can. Also if you need assistance in the entire activity - selling to buying , legal tax. Please reach me at dipak @ indiassetz.com or post on our website www.indiassetz.com
Yes it is possible u/s 54 of the Income Tax Act 1961. You both can claim Exemption benefit u/s 54 of the Income Tax Act 1961.
Yes both of them can claim under sec 54
Recent Topics :
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
Related Topics :
CAclubindia
