House Property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2010 I had sold some land and had got long term capital gains. I have invested the said amount in another house property, in the name of my wife.

Shall I be eligile for rebate u/s 54

If not, what is the alternative since tax shall be too high if I dont get any benefit.

I was not aware of these tax laws when I did the transactions.

Kindly advise urgently

DR GAURAV GUPTA FCA, FCS, LL.B

DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
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11 July 2010 better to purchase the house in ur name or buy capital gain tax bond os sec 54ec

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2010 BUT I HAVE ALREADY INVESTED IN MY WIFE'S NAME.

I UNDERSTAND THAT cA GIRISH AHUJA HAD QUOTED ONE CASE WHEREIN SUCH INVESTMENT HAS BEEN ALLOWED

PLEASE HELP ME

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