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Capital Gain

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(Querist)
18 December 2010 Respected Sir,

One of our client sold house property and amount trasfer to her husband by way of gift to build a hosue.

Amount received from relative is not taxable u/s 56(2), But whether she can claim exemption u/s 54 for capital gain.

Please reply at the earliest.
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CA Kalpesh Gokani

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CA Kalpesh Gokani (Expert)
18 December 2010 Exemption can be claimed if purchased in joint name..but only in single name of husband, exembptoin cant be claim...other openion should also be obtained..
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
18 December 2010 No Exemption is Not Available.
Available Only if Wife Purchase HP For Claiming Exemption u/s54.
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Nagaraj

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Nagaraj (Querist)
20 December 2010 Thank you for your reply sir..

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