21 January 2014
i am going to sell a plot of land which is in my name & going to buy a residential house by applying provisions of sec 54F, Is it necessary that i get the house in my name or can it be in my parents name..? i am not a dependent if so can i buy the house in my name & later give it as a gift to my parents will they be attracted with any tax..?
22 January 2014
You have to buy new property in your name only. Later you can gift it to your parents. Gift to parents doesnt attract capital gains tax.