Which would be the best scenario to save capital gain tax for both father and son
Scenario 1)
Father Sells his old flat, receives money in his account and transfer this money to his son bank account for immediate purchase of flat by his son, new flat is registered in son name.
Scenario 2)
Father Sells his old flat, receives money in his account and transfer this money to the SELLER of new flat and gets new flat registered in his son name as a gift.
Scenario 3)
Father Sells his old flat, receives money in his account and buy new flat in his name within 2 years and then gift this new flat to his son.
A.Hello Sir
Contact a chartered accountant for your query. A chartered Accountant or a Income tax lawyer could help you in detail on your query and could give your a better understanding.
Thanks
Please rate if you find this advice helpful.
A.hello
It would be suggested to contact a chartered accountant or a income tax lawyer for better benefits. You could find income tax lawyers in your city through vidhikarya.
Thanks
If you find this advice helpful, please rate.
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Pardeep Kumar Dhiman Dhiman
Responded 2 years ago
A.Kisi income tax ke advocate ya phir chartered accountant se contact kare vo aap ko aap ke mamle me uchit help kar sakta hai. Kyon ki aap ki problems tax se related hai isliye aap ko sahi help vahi se mil sakti hai.
A.Dear Sir,
You may approach chartered accountant or an advocate exclusively practicing on income tax side. Your issue involves income tax related as such it is better to approach the concerned expert.
Dear Client,
A property when left by the deceased owner intestate i.e, without any will, is devolved upon the surviving legal heirs in equal share following the law of inheritance/succession. After t...
Dear Client,
The death certificate of a deceased person is a crucial document that is mandatorily required for the issue of a legal heir certificate either by the Municipal Authority or to apply for a...
Dear client,
If the seller of the property is not now in India, he can still execute a POA abroad, but the process is slightly different. His first step is to visit the Indian Embassy or Consulate in...
Dear Sir,
If there is perpetual restraint from selling the land then the grandson cannot sell without the permission from the Deputy Commissioner. The conditions in the Darkasth to be read.
Dear Sir,
Yes, the mutation will be taken place as jointly in respect of your respective wives. You have to produce certified copies of both the Gift Deeds.
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