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LTCG on sale of House, Income Tax

Issue Id: - 111479
Dated: 8-2-2017
By:- CA AJAY KUMAR AGRAWAL
LTCG on sale of House

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Mr A & Mrs A are both working persons & living in same house. Said house is in name of Mrs. A. The house was constructed / bought long back. Mr A has another residential house in his own name. Now Mrs A want to sell her own house & both want to shift to another house (which Mr A has in his own name). Mr A wants to construct another floor / floors on the said house & is ready to execute transfer deed of new floors in favour of Mrs A. Can Mrs A invest the LTCG from sale of her own house & invest in this new house & be eligible for LTCG? Kindly share your valuable views.

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