21 February 2011
A (Husband) & B (Wife) are owning two separate properties. B intends to sell the property & acquire another one in lieu of the earlier property.The property held by B has been mortgaged. The mortgage would be transferred to new property. B,while acquiring new property wants to enter into co-ownership agreement with A so that they can avail loan on A's property. Can anybody enlighten on capital gains tax implication on the same?
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