Section 54 availed by Woman with gifted property

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Student
43 Points Posted on 10 September 2023

Suppose a husband gifts a residential property to his wife. The wife subsequently sells the residential property and buys another residential property within 10 days. 
Question- 1- Will section 54 be availed by the wife? 

2- Whether stamp duty exemption be availed by Woman on the sale of gifted property? 
 

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On 10 September 2023 at 16:07 Report
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CA ipcc
449 Points Posted on 11 September 2023
1. yes, you can avail 54f however the value of the new property should not be less than the gross receipts recieved on sale of the old property.

2.i think stamp duty exemption cannot be availed. however the same can be included in the cost of the new building purchased for the purpose of exemption under section 54f
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On 11 September 2023 at 13:33
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Profession Business
28246 Points Posted on 12 September 2023
Seems quite ok.
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On 12 September 2023 at 21:17

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