Hello,
1. You cannot invest in InvITs bonds, if you want to invest then you can invest in Long Term Capital Gain Tax Saving Bonds i.e REC and NHAI upto a maximum of Rs.50Lacs within a period of 6 months from the date of your sale.
2. The INvestment cannot be made in your wife's name, it has to be made in your name only to claim Capital gain Tax Saving Benefit.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP