{"id":38353,"date":"2024-01-13T15:30:17","date_gmt":"2024-01-13T10:00:17","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=38353"},"modified":"2024-01-13T15:30:17","modified_gmt":"2024-01-13T10:00:17","slug":"non-resident-purchase-of-residential-property-exemption-s-54","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/non-resident-purchase-of-residential-property-exemption-s-54\/","title":{"rendered":"Non -Resident -Purchase of Residential property \u2013 Exemption \u2013 S-54"},"content":{"rendered":"<p>Mr Headache is a Non Resident Indian bought a house at Delhi, from original allottee in 2020. The registry and delivery of possession is given by the builder in November 2021 in the name of Headache&#8217;s wife Mrs Migraine, as the stamp duty chargeable to ladies have concessional rate for total consideration of Rs 2 cr.<\/p>\n<p>Mr Headache sold his inherited house in Maharashtra in October 2022 where he made a capital gain of Rs 90 lakh chargeable to Income Tax.<\/p>\n<p>He has following query<\/p>\n<ol>\n<li>Is it allowed in FEMA to purchase a residential house in India by an NRI?<\/li>\n<li>What are the implication of Benami Transactions Act for purchase of house in the name of spouse?<\/li>\n<li>Can he claim exemption under section 54 for purchase of house against the sale of house in Maharashtra?<\/li>\n<\/ol>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1120,1121],"qa_category":[23],"qa_tag":[1119],"class_list":["post-38353","qa","type-qa","status-publish","hentry","qa_expert-mr-ganesh-purohit","qa_expert-sr-advocate","qa_category-income-tax","qa_tag-non-resident-purchase-of-residential-property-exemption-s-54"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/38353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38353"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38353"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=38353"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=38353"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=38353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}