Capital Gain of one plot being used for construction of another plot.

[rajesh agrawal]

Hello everyone,

A Plot has been sold in the name of husband . In the same year construction is to be done on another plot which is in the name of wife. Can the capital gain in the name of husband be used for the construction of plot in the name of wife, to save tax ?

Thanks in advance

AI Summary

Can capital gains from a husband's plot fund construction on wife's property for tax savings? Clarification sought. A user inquired about the possibility of using capital gains from a plot sold in a husband's name to fund construction on another plot owned by his wife, aiming to save on taxes. The query seeks clarification on whether such an arrangement would be permissible under income tax regulations.