Query of capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2012 My query is:

Mr. A and Mrs. A is having one residential house property purchased before 1980. Mr. A is not well and having unconscious mind. Now, Mrs. A wants to sell this property.

As Mr. A is not well, Mrs. A wants to purchase another residential house jointly with his son to claim benefit u/s 54 . Can Mrs. A claim the benefit u/s 54 if she invest the entire capital gain in another house property jointly with his son.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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25 May 2012 Mrs. A claim the benefit u/s 54 if she invest the entire capital gain in another house property jointly with his son but Mr. A would be liable for tax on the capital gains.