A woman assessee has long term capital gain from sale of property. Since new property is valuing high, can she invest in the new property jointly with her husband. Any point to take care in such case?
2 Replies
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 03 November 2017
I am assuming that she sold her residential property.
She can claim tax exemption u/s 54. if she buy only one property and invest her entire LTCG.
CA Mohit Aggarwal
(CA in Job)
(81 Points)
Replied 03 November 2017
in case she sold her residential property, then amount upto the capital gains should be invested to claim exemption and if she sold any other capital asset, then entire receipt should be invested to claim exemption.
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