My mom have a house which now we are interested in selling and buying another one. But the property which we are goin to buy has to be taken on my brothers name as we will get a home loan on his name. Now i want to know whether a property can be taken jointly and whether only my brother can have his name and still my mom can claim an exemption under section 54. Also i would like to know that i have filled form 15G on my mother's name as there were no plans then that we will sell a property will this effect.
Also as to how can we arrange for money since we will sell the property and then buy another one so for the time being how wil the money be arranged. Please let me know.
Thanking You.
Regards,
Ritu Sharma.
CAclubindia
