Sale of ancestral flat

Tax Consultant

Hello Members, 

My Client has Sold a Flat in FY 2018-19 which was gifted by her husband through Registered Gift Deed in FY 2017-18. The Amount Received from Sale is Invested in Term Deposit (Fixed Deposit) and She stays on Rental basis by Paying a certain amount of Rent monthly and Deposit. My Query is:-

1. Treatment of Income from the amount received from the sale of flat.

2. Can we treat it as a gift received or capital Gain will arise (as she is willing to purchase another flat within a period of 2 years)


Please Guide me.

Thank You.



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