Corporate gains tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 July 2015
Hi,
I have a property in the name of my grandmother which is to be sold. We plan to buy another property of more or equal amount (in my name) but the purchase is to take place before the sale. We need to take a loan for the new property and it can only be taken in my name as my grandmother is old. Is there anyway that the corporate gains tax- which will fall on my grandmother once she sells the house- can be transferred to me? We do not want to change the ownership of the property we are selling to avoid the registration cost.
Please advise. Thanks
I have a property in the name of my grandmother which is to be sold. We plan to buy another property of more or equal amount (in my name) but the purchase is to take place before the sale. We need to take a loan for the new property and it can only be taken in my name as my grandmother is old. Is there anyway that the corporate gains tax- which will fall on my grandmother once she sells the house- can be transferred to me? We do not want to change the ownership of the property we are selling to avoid the registration cost.
Please advise. Thanks
18 July 2015
Take gift of the property in your name the stamp duty will be less. In such a case you can avoid capital gains tax.
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