Gift to close relative or huf

Mani S (Querist) 07 June 2013 This query is : Resolved
I am planning to gift a newly acquired property to my wife. The property is in Tamil Nadu. What is the procedure. What would be the stamp duty and what would be the future impact in the hand of my wife.

I am the Kartha of an HUF. Can I gift the property to the HUF. In this case what would be the stamp duty.

After gifting the same, I would have only one house property. Now if I sell a vacant land and from its proceeds if I buy another house property (which will be my second after the said gift) will I be eligible for CG adjustment?

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