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Dear All,
My query is related to capital gain on house property. If a
pair of husband and wife have four houses in joint name
comprising three residential house and last one is
commercial property. Now question is that if they sold all
property for Rs. 1.00 Crore and took a new residential
property for Rs. 1.25 Crore. So are they eligible to full
tax exemption u/s 54 and 54 f and they had to not pay any
amount of Income tax? And they have also taken a Rs. 25.00
Lacs housing loan to invest the last one. So are they can
take deduction u/s 24B and 80C as well?
Please note that they have all property in joint name and
share is 50% of each. Please guide me for this.
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Answer Posted / arjun
THE ASSESSEE WILL BE ABLE TO CLAIM DEDUCTION OF RS 25 LACS
U/S 80 C . AND INTEREST ON THIS WILL BE DEDUCTIBLE U/S
24B.
| Is This Answer Correct ? | 1 Yes | 3 No |
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