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Ltcg-new ftat

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(Querist)
10 April 2017 Dear
I want to buy a new flat in joint names with my son, his name will be first and my will second/co owner.
I sold my flat and having LTCG that I deposited in a separate LTCG account, I will use this amount and balance fund will provide by my son/ home loan by my son and by me. Is any,problem in this planning as for as income tax side?
Please advise me.
Thanks
Ashok Agarwal
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Studentsca

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Studentsca (Expert)
10 April 2017 Yes you can go ahead and do so. Since the Long-term capital gain gain has been invested you in purchase of property you will be eligible for exemption us 54.
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Advocate

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Advocate (Expert)
11 April 2017 also you can purchase more than one house adjoining to each other and make a common way of all those houses to claim full capital gain rebate against purchase of one house only.
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