My father has a house that he wants to sell (House A). i want to buy a plot . Value of Plot is higher than house the house. Can I buy the plot now and when my father sells his house we can construct the house and LTCG on his house be used to construct the house on the plot. Will he get the LT benefit for investing in a residential house. asumming the plot is named under me.
Will the answer changed if I am the primary owner of the plot and my father is the secondary owner?
Please advice.
CAclubindia
