CAPITAL GAIN EXEMPTION

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....APITAL GAIN EXEMPTION<br> Query (Issue) Started By: - puneet virmani Dated:- 2-5-2015 Income Tax<br>Income Tax<br>X INCURRED CAPITAL GAIN FOR 1 CR BY SALE OF HOUSE PROPERTY. X IN PROPER TIME INVESTED ....

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....IN NEW PROPERTY 1.25CR. HOWEVER OUT OF 1.25 CR HE INVESTED 50 LACS SELF AND BALANCE 75 LACS THRU BANK LOAN IN NAME OF X HIS WIFE AND TWO MAJOR SONS.HIS INVESTED SELF MONEY IN HIS BUSINESS. WHETHER EX....

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....EMPTION IS AVAILABLE TO X U/S 54 FOR PURCHASE OF NEW PROPERTY AND TO WHAT EXTENT. FURTHER HERE IT IS IMPORTANT TO NOTE THAT AS HOUSING LOAN STANDS IN NAME OF X AND 3 OTHER FAMILY MEMBERS , ALL ARE MAK....

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....ING REPAYMENT AND TAKING BENEFIT OF ITR IN THEIR RESPECTIVE RETURNS. NO INVESTMENT HAS BEEN MADE BY OTHER THREE IN PURCHASE OF NEW HOUSE PROPERTY EXCEPT MADE BY X...<br> Discussion Forum - Knowledge S....

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....haring ....