Income tax capital gain

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Yash Dave (Querist)
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24 January 2014 if a husband and wife have residential flat in 1/2 share in their name husband name is first and second name of wife they want to purchase another flat in 1/2 share and this time first name is of wife and second name of husband then what will be effect of capital gain at time of selling any one residential flat can they invest in another residential flat for exemption from capital gain tax or have to invest in capital gain bond will both be having capital gain tax our only the person with first name pl explain in brief

ritujain

ritujain (Expert)
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25 January 2014 MY OPINION NOT EFFECT IN TITLE DEED FIRST NAME & 2ND NAME. PROPERTY 50% EACH PERSON. APPLICABLE BOTH PERSON NAME WORK.
CAPITAL GAIN BOTH ITR NAME CALCULATED

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