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CAPITAL GAIN TAX

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2010 I have a flat on name of my wife. purchase in 2004 at Rs.2 lacs currently the market value of the flat is Rs.11 lacs. i want to sell the flat and against this want to buy a house at Rs.15 lacs on my name and going to take loan of 5 lacs form bank. my query is
1. how i can manage capital gain and save tax
2. it should be possible to buy house on both name and take loan.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
18 August 2010 Buy the new house in joint name and claim exemption from capital gains u/s 54.

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