15 April 2015
Dear all please help. Q. One of my client's selling house property registered on his father's name and now he wanted to buy new property in his own name because his father is retiring from job and hence won't be eligible for housing loan. So in order to save LTCG in his father name please guide. Thanks in advance
15 April 2015
Purchase the new residential house property in joint names of the client and his father in which father can invest the capital gains arisen from sale of his house property.
15 April 2015
Agree with paras or transfer property to son and then sell property but it would cause you additional cost of stamp duty hence not advisable.
16 April 2015
I thing I would like to share that in the last month Revenue minister of Maharashtra declared that we can transfer property in blood relation without paying stamp duty. Just by using stamp paper of Rs 500. So option suggested by Kanj is also good.
CAclubindia
