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Capital gain exemption

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(Querist)
22 November 2014 hi experts my father is selling his self acquired property which is jointly owned by my mother.. The long term capital gain after indexation will be too high is there possibilities that they can gift the property to me and I can sell the same after transferring the documents. so that we get exemption under sec54F since do not own any other properties we can invest the proceeds on residential property.. is there any rule with time bond to sell gifted properties to get exemption under 54F
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
23 November 2014 To get the benefit sale this property and buy 2 new residential properties one in the name of your father and the other in the name of your mother and claim 54F. In your fathers property you can reside and you can let out your mothers property.
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