Sold a property funded entirely by you but jointly owned with your wife? You may claim 100% Section 54 LTCG exemption on a new home in your name; what your wife should report in her ITR
Section 54 provides relief from long-term capital gains tax when an individual or HUF sells a residential house and reinvests the capital gain in another residential house. You bought a property jointly in the name of yourself and your wife, but the entire money spent on the purchase came from you. Now you are planning…
