Capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2014 I have two house properties
in one i have 100 % ownership.
in second i am 20 % co-owner with wife.

now i m selling one commercial property
to take advantage of Sec.54-f can i gift my
20 % share in one property to my wife ???

means after gift will i ceases to my ownership in co-owned property ???

am i eligible to deduction u/s 54-f ??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 March 2014 If you gift your share to your wife, you are treated as DEEMED OWNER as per Section 27.

So you will still be said to own a house property on the date of transfer.