Section 54 availed by Woman with gifted property

452 views 2 replies

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? 
 

Replies (2)
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
Seems quite ok.

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