18 December 2014
My mother has sold property that was solely in her name. She has gained capital gain in lakhs. Now I (her son) want to purchase property in my own name with my wife and my mother is ready to give full money including capital gain to me. Please confirm as all money is again going to be invested in new property though now solely in my name, is my mother liable to pay any capital gain tax OR I need to pay any tax?