NRI issue

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student
180 Points Joined July 2009

NRI sold its property and at the same time buy new house in india.my Question this that

1.if new house buy by assessee in his spouse name or on joint holding ,is assessee claim deduction under sec 54 for deduction again LTCG.

2.which type of bank a/c open by NRI so that NRI  move its Indian currency at abroad anytime?

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On 02 February 2011 at 12:55 Report
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Learner
3134 Points Joined September 2009
If assess buy new house in his spouse name than no benefit u/s 54 and second thing for joint holding assess should first name in joint holding. NRI Account is best for Indian currency transactions.
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On 02 February 2011 at 13:20
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CA CS
308 Points Joined November 2010

so from my point of view the above answer is correct as given by pankaj

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On 02 February 2011 at 13:32


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