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

Share This Thread
  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

Draft saved Draft deleted
Similar Threads Forum Date
Capital Gain exemption while holding multiple property Other Taxes Apr 8, 2017
Long Term Capital gain exemption for investment in Joint name Other Taxes Oct 21, 2016
What if I sell Property after claiming Cap Gain Exemption? Other Taxes Sep 12, 2016
Capital gain exemption if new property purchased on HUF name Other Taxes Aug 30, 2016
Exemptions for capital gain Other Taxes Aug 8, 2016