Mon. May 23rd, 2022

New House is in wife’s Name – Forget about tax-relief from the sale of the house

The Mumbai Bench of Income-Tax Appellate Tribunal (ITAT)'s denied the benefit to be sought from sec- 54 of the Income-tax Act. The reason behind this denial was that the new house bought by the taxpayer was not in his name but in the name of his wife and his adult daughter.... Read More