08 September 2016
if a husband and wife co-owned a property and sell the same and invest the money in a residential house owned by husband and the house is transferred in wife's name within 2 years of sale of property,can wife get capital gain exemption?
09 September 2016
Had you clarified the same in your original query, it would have been better. Dont you think so? Anyway...... The capital gain on sale of PLOT has arisen for BOTH....H as well as W. Now W wants to invest in the house owned by H....(First floor as you mentioned.) If the House is capable of being transfferred and the same is transferred in the name of W, then W can very well claim the exemption. (Please note, by doing so, H is facing one more capital gain, please dont forget that)