A flat purchased on 1981 is up for sale. The member of the society is Mr. A and wants to sell the flat and share 50% of the sale proceeds with his brother Mr B who lives separately. Mr. A does not want to write a gift deed in favour of Mr B. Mr. B is not the nominee of the flat nor the owner.
Mr. A's question is how capital gains will be affect with the below two options:
1) Whether to have a single ownership of the flat for sale, and give 50% of the sale proceeds to his brother?
OR
2) Whether to have a joint ownership of the flat for sale, and share 50% of the sale proceeds?
CAclubindia
