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Mahesh

Mahesh Padmanabhan  |120 Answers  |Ask -

Tax Expert - Answered on Jun 08, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more
Asked by Anonymous - May 27, 2023Translate
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is capital gain tax rebate(property) gets reduced or affected if new property bought has two owners (one who had a property earlier and second having purchased property for first time)? does capital gain rebate get diminised or distributed between new owners in percentage of ownership?

Ans: Hi
If the individual is reinvesting her/his share of capital gain from sale of a residential property into another residential property, even jointly with another individual then if the amount of capital gain is reinvested then the person reinvesting the said capital gain amount would get the exemption
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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