capital gains tax exemption

Pranesh 1
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I have two questions:

1 Can I save capital gains tax by investing Rs 50 lakhs in approved bonds and the balance in a new property?

2 Can the new property be jointly financed and owned by me and my son ?

section-54ec capital-gain-bonds long-term-gains capital-gains
1 Answers
  1. Income tax acts are silent on whether both section 54/54F and 54EC can be used simultaneously. I would advise you to consult a experience tax professional/property lawyer in this case.
  2. New property can be purchased jointly/financed, but your contribution towards cost only will be considered for capital gain deductions.
Pankaj Batra5212

Thank you, Pankaj, for your immediate and useful reply

Pranesh•
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