Capital gain related help

Anupam (Finance Professional) (61 Points)

17 August 2015  

Hi,

I have already purchased a Flat worth 62 lacs in joint name with my mother in July 2015 (me being the 1st owner)

After that my mother sold out a property that was solely on her name worth 60 lacs. (Capital gain amounts to 35 lacs after indexation)

Please let me know what are the tax implication, will there be any capital gain tax?

Further details:

New Flat Cos – 62 lacs

Mother paid till date – 17 lacs

My contribution is through bank loan of 45 lacs