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Capital gain exemption
i have sold flat in the year 2012-13 cost of rs. 5100000 and new residential flat purchase cost rs 80,00000 while registration of new flat i have register in the name of my bhabhi and dever sons can i avail exemption 54 of the income tax act 1961 pls guide us
Replies (3)
No, if the new property is not registered under your name then you can not claim capital gain exemption.
No, there are case laws where new property is invested jointly in the name of Assessee and his wife or in the name of wife alone and exemption is allowed u/s 54F/54. But no such case where exemption is allowed when new house property is in the name of spouse of brother.
No. There are case laws where exemption is allowed u/s 54/54F where new house property is jointly in the name of assessee and his wife or his wife alone. But there is no such case law in which exemption is allowed where new house property is invested in the name of spouse of brother.
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