Pritam Ravi Shrivastav and Priya Shekhar Shrivastav are husband and wife and the joint owners of a property in equal share. Pritam had sold a converted land which he had purchased 7 years ago for a sum of Rs. 5 crores. Now if Pritam wants to purchase a flat in his name for Rs. 4 Crores.
My question is:
Jan. 18, 2018
- Whether he can claim any sort of exemption on the said amount of Rs. 4 crores.
- If the answer is yes, what are those exemptions?