Capital gain exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2012
My father earned capital gain on sale of assets. Is he eligible for exemption by buying two house in his two son name?
08 February 2012
Courts have given divergent decisions. One house in the name of assessee (here father) will avoid litigation.
08 February 2012
Would suggest that the reinvestment to buy one house may be made again in the name of the father itself to have the tax benefit and later be gifted to one of the son.
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