Cap Gain Exemption for Construction of Property on Husband's Name?

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  1. Dear Sir Please clarify to the following

    A wife receives amount receives money by sale of ancestral property(one fifth share)

    If that entire amount is invested for construction of house on the land standing in the husband
    (sole owner)whether the entire amount so invested is eligible for capital gain tax in the hands of wife.
     
  2. V K Khanna

    V K Khanna Active Member

    To claim deduction from capital gain tax under Sec 54, your wife should be the sole owner of the land or have joint ownership with the husband.
     
  3. Thanks for clarification

    Narasimhan
     
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