SCENARIO:
mr x had a house in his own name at kochi,he sells it for 11500000,within two months he buys another flat in kochi for 1,3000000
in his name as well his wife 50-50share.now he wants to give his share to his wife as a gift within 3 months of purchasing the flat.will this affect his tax excemptions that he was eligible for buying an house within the stipulated 2 years?
Urgent PLZ REPLY.
CAclubindia
