Capital gain

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2013 If land inherited by wife is gifted to husband and the land is sold by the husband , whether these capital gain will attract clubbing provision under Income tax . I need the urgent advise from Expert on this matter

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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25 May 2013 Yes u/s 64 clubbing will be done and the income is to be assessed in the hands of the wife. The maximum limit is 50000/-

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2013 But if husband invest full net sale consideration in New property then the capital gain which is being earned is exempt from tax, then also it should be assessed in wife hand ?

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