Hi Sir,
If a land is in the spouse's name & on selling the land, if she decides to invest in constructing a house on a vacant land which is solely in the name of the husband , can she claim tax benefit. Kindly advice.
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Tax benefit from sale of property
Replies (2)
yes she can claim tax benefit under section 54series
as per act it's not permitted but there are several case laws that allows deduction on investment made in the name of spouse however make sure that you construct residential house in the vacant plot with in 3 years from the date of sale because no deduction for investment in vacant plot is allowed
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