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Capital gain- tax

This query is : Resolved 
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(Querist)
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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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
07 April 2021 Gift to wife may attract clubbing provisions. We have to see deep into the legal position.
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