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Capital Gain

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(Querist)
31 July 2009 If A person sold a house which is owned by him and reinvest the amount into another house property which is jointly owned by two person in that case how much amount will be takent to claim in capital gain if the gain is long term ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 July 2009 Do u mean that the assessee acquired a jointly owned new asset. If it is so, full exemption u/s 54 is allowable.

Citation:- CIT Vs.Smt.Sunita Aggarwal (2006) 284 ITR 20(Del).

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