Capital gain- tax
This query is : Resolved
06 April 2021
A is having 2 house property. and one vacant land. one residential house is in his ownership. 2nd house is in his and his wife ownership ( Co owner ) now A wants to sell vacant land and buy one residential house. To claim deduction u/s 54F there is restriction of 2 house. So if A gift 2nd house to his wife and buy new home. will he be eligible to claim 54F exemption since one house is gifted to his wife and restricition on 2 house will fulfill please advise
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Read more at: https://www.caclubindia.com/experts/ask_query.asp
07 April 2021
Gift to wife may attract clubbing provisions. We have to see deep into the legal position.
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