My client has purchased a house property in his wife's name.
They have started receiving rents from June 2018. Clubbing provision is attracted as the wife has no source of income.
Suppose I show IFHP in wife's name. Would I be able to claim exemption u/s 54 in my client's name when they sell the house property or the exemption would be available to the wife only?
please suggest
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My client has purchased a house property in his wife's name.They have started receiving rents from June 2018. Clubbing provision is attracted as the wife has no source of income. Suppose I show IFHP in wife's name. It will be clubbed in husband's income!! Would I be able to claim exemption u/s 54 in my client's name when they sell the house property ?please suggest Yes. as again clubbing provision!!! |
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CAclubindia
