longterm capital gains tax adjustment

My wife and me are having two residential property in coimbatore. We want to sell the same and buy a flat in bangalore jointly. Our properties in coimbatore are in seperate names. I would like know whether I can adjust the capital gains from our sale at coimbatore in the joint property to be purchased at Bangalore and avoid capitalgains tax

asked Nov 17 '11 at 08:15 by thonour s 1222


New property can be purchased in joint name too to save income tax on capital gains. But your and wife's share in new property should be more than capital gains on old property(or sale consideration in case old property are plots and not house), to save income tax fully.

answered Nov 17 '11 at 12:09 by pankaj 5.2k320

link

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×777
×339
×326
×80
×1

Asked: Nov 17 '11 at 08:15

Seen: 1,102 times

Last updated: Nov 17 '11 at 12:09