Provisions of long term capital gains

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Tushar Lakhanpal (Querist)
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19 March 2017 Dear All,

A friend of mine sold a property in July 2016 and had a long term gains of Rs. 7 Lacs (after applying indexation provisions) & he purchased another property on the same date for Rs. 9.00 Lacs in the name of his wife, she is a housewife.
Now please answer Whether he can claim the exemption for property purchased in the name of his wife ??

swasti

swasti (Expert)
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19 March 2017 To claim exemption, the Capital Gains arising from the sale of Land should be reinvested in his name itself and not in his wife's name.