Property LTCG issue
This query is : Resolved
12 July 2025
Dear All,
My father owned a house and assigned my mother as the legal heir in registered will. This house was bought 20 years back. He passed away post which my mother got the house transferred in her name. She sold the house after 3 years but the buyer insisted to have my name and my brother's name included in sale deed to avoid any claim later on by either me or my brother. Later, within 6 months, my mother bought an apartment to offset the LTCG.
Now, this sale transaction is reflected in my AIS and my brother's AIS. But we did not receive any proceedings from the house sale and it went only to my mother's bank account (single holding). Now the issue is how do both of us avoid paying tax on the LTCG and the whole sale amount should be assigned only to my mother.
Please suggest how to proceed.
My father owned a house and assigned my mother as the legal heir in registered will. This house was bought 20 years back. He passed away post which my mother got the house transferred in her name. She sold the house after 3 years but the buyer insisted to have my name and my brother's name included in sale deed to avoid any claim later on by either me or my brother. Later, within 6 months, my mother bought an apartment to offset the LTCG.
Now, this sale transaction is reflected in my AIS and my brother's AIS. But we did not receive any proceedings from the house sale and it went only to my mother's bank account (single holding). Now the issue is how do both of us avoid paying tax on the LTCG and the whole sale amount should be assigned only to my mother.
Please suggest how to proceed.
13 July 2025
In the AIS submit your response, as sale transaction related to your mother.
15 August 2025
Thank you sir. AIS only allows choosing dropdown action "Information is denied". How to put in text?
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