05 December 2013
A Residential Property was co-owned by Husband and wife ,now they have sold it.Can both husband and wife claim deduction u/s54 by investing in single i.e only 1 Residential Property?
09 December 2013
Thank You Sir, for above reply. But will wife be eligible for Sec.54 Deduction if part investment in new House property is made from her Bank Account?
11 December 2013
no. mere making investment from wife account is not enough. one need to prove that wife was infact earned such money in any previous year which she is investing now or else it will be treated as sham entry
CAclubindia
