Long term capital gain on sale of property

nitin (partner) (73 Points)

20 October 2016  

hello

my father and mother have multiple joint properties in their name. now they are selling one residential flat. please can you advise the best way to save LTCG. My CA says since they have more than one property in their name they are liable to pay tax. I have checked online on multiple forums and it is mentioned that the amount can be invested in capital bonds for 3 years to save tax. If so the entire sale proceeds have to be invested or only the capital gain part ? please clarify. 

thank you.