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