How to get tax exemption?
This query is : Resolved
anublrinfa
(Querist)
08 October 2018
My mother had a residential plot registered in her name which was purchased in 2005. She sold the property in 2018 and gifted me the amount earned from the sale. I am now planning to purchase new residential property which will be registered in my name only. What procedure should be followed to make sure my mother is exempted from the capital gain tax?
CA R SEETHARAMAN
(Expert)
08 October 2018
Purchase residential property in the name of mother so your mother will be exempt from capital gains tax.
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