Long term capital gain exemption on house property u/s 54

This query is : Resolved

Dileep (Querist)
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27 January 2019 hi
My brother sold his Residential house property on December 2018. He plan to buy a new residential hose property and plan to register his wife's name. All legal proceedings will complete before march 2019. His wife does not have any income and completely dependent on him.
question -
Can claim capital gain tax exemption u/s 54 on sale of residential house property, if he invested the sale proceeds in new house property which is on his wife's name?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 January 2019 ideally invest in your name. Please refer to this article https://www.financialexpress.com/money/capital-gains-tax-exemption-sold-house-now-buy-new-one-only-in-your-name/1454149/