Capital Gain Tax Bonds in case of joint sellers

Hello Pankaj,

Will the investment limit of Rs. 50 lakhs in NHAI/REC bonds apply in case there are joint sellers? If there are 3 joint sellers, would the investment limit be Rs. 50 lakhs per seller (i.e, Rs. 1.5 Crore) or would the investment limit be Rs. 50 lakhs?

Thanks very much


asked Aug 28 '11 at 12:54 by Gaurav Passi 1111

Income tax on long term gains would be computed individually in case of sale of a jointly owned property. Each one of the gainer can invest maximum 50 lacs in capital gain bonds per financial year.

I hope it clears that total 1.5 crore can be invested by three persons (50 lacs each).

answered Aug 29 '11 at 23:06 by Pankaj Batra 5.2k320


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Asked: Aug 28 '11 at 12:54

Seen: 1,883 times

Last updated: Aug 29 '11 at 23:06