Capital Gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 November 2010
Dear Sir,
An assessee sold his house property in the current year. The capital gains are required to be invested in new house to claim benefit u/s 54. Is it possible that new house is taken on his daughter's name, still will he get the exemption? What if he pays the down payment for the daughter's flat out of that capital gain, will he get the exemption for downpayment paid u/s 54.
If not what is the other way out for saving of capital gains tax?
An assessee sold his house property in the current year. The capital gains are required to be invested in new house to claim benefit u/s 54. Is it possible that new house is taken on his daughter's name, still will he get the exemption? What if he pays the down payment for the daughter's flat out of that capital gain, will he get the exemption for downpayment paid u/s 54.
If not what is the other way out for saving of capital gains tax?
29 November 2010
You can not take the benefit of capital gain if you have purchased the house in the name of daughter.
you can purchased the house in the name of assessee then gifted to daughter.
you can also invested capital gain amount in infrastructure bond.
you can purchased the house in the name of assessee then gifted to daughter.
you can also invested capital gain amount in infrastructure bond.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
