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Does spouse need to pay tax to reinvest gains?- Property hotline

Posted

August 25, 2016

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Expert: Suresh Surana, Founder of RSM Astute Consulting.

Question: I am a retiree. I purchased a small house in Nashik in the name of my wife with my retirement amount. My wife wishes to sell the property. She is a housewife. We want to invest the gains in a new property. Will I have to pay any tax on the same?

Answer: Income arising to the spouse from assets gifted shall be clubbed in your hands. Reinvestment benefits available u/s 54 for investment in one new residential property.

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Expert Suresh Surana FounderWill IAnswer IncomeLink Be Un

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Does spouse need to pay tax to reinvest gains?- Property hotline · Mirror Now · Sentinel