capital gain
This query is : Resolved
21 February 2011
my father a sold a plot and received a net consideration of Rs 800000.00, we are purchasing a house for Rs 5000000.00, but we are taking a loan for this of Rs 4000000.00 and the whole of the loan amount is in the name of my mother due to which we have to register the whole of the property in my mothers name. Is there any way by which we claim exemption of capital gain from purchase of this property
18 March 2011
No their is no such exemption.
To avoid Capital Gain tax you have to purchase property in your father's name itself.
To avoid Capital Gain tax you have to purchase property in your father's name itself.
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