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.
Answer / 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 |
What is proposed GST's impact on Government Revenue? What is the proposed Tax rate? What is the proposed Tax Structure (Central GST and State GST) ? Whether it is good/bad to Govt./Consumers/manufacturers?
How to calculate rental exemption if HRA is not given seperately and what will be the maximum allowability and under which Section of Income tax
please tel me Karnataka vat,sale tax deposit from and return from
What is the tds (194C) deposit date for the payment made to a contractor on 31 March.
What is the difference between income year, financial year and FBT year?
10 Answers Accenture, Capital IQ, College School Exams Tests, Genpact,
What is the CST rate in India for sale of Tractor spare parts
pls provide Latest Slab of Profession Tax of year 2008-09
how to calculate sub contract tds his bill 48500?
What is the rate of TDS on Rent on NRI
What is TDS ? What is the TDS Rate as per new accounting period 2008 - 2009
16 Answers Accounting, InfoCepts, Karthik Industries, Quality Tea Plantations, Syntel,
If a nri buys property in india, does he has to pay property tax?
what is the rate of tds on interest payment and basic exemption limit for general insurance co.