20 March 2018
Hi Guys and practicing members,
My dad having flat in his name..now we are planning to sold out the same and buy new flat in some other place.
My queries is can I use sale proceed of flat sold of dad to buy property in my name and can this case long term capital gain would be attract in my dad name.
20 March 2018
Yes, since the new property is not registered in your father's name, no exemption from Capital gains will be available. Therefore Capital gains will be attracted.
CAclubindia
