Investing in A Wife- Recently, the Income-Tax Appellate Tribunal’s

Recently, the Income-Tax Appellate Tribunal’s (ITAT) Mumbai work bench denied a taxpayer the advantage of long-term capital gains (LTCG) taxation, that allows a person to truly save income tax in the gains he makes after offering a residence. They can achieve this by spending the profits in an innovative new investment property.

The cause of denial: The taxpayer didn’t choose the brand new property in their title – alternatively he bought it when you look at the title of their spouse and child. Your order is as opposed to your scene that several other ITATs and high courts have actually drawn in days gone by. Delhi tall Court, for instance, permitted a taxpayer to .

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