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.
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.
CAclubindia
