Tax benefit

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Sharma (Querist)
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11 April 2014 Hi, I have an Query with Experts In this Field. My Father-in-law has a property in Indore,M.P. And He wants His Daughter to Purchase a Flat in Hyderabad. SO Which Way Would Be More Beneficial. To Sell His property in Indore & purchase new property on his name in Hyderabad or He should Sell his property & transfer that amount in his daughter's account and help purchase property at hyderabad in Daughter's Name. Please Advice the more beneficial method to save from Capital Gain.Because whatever property he purchased was 20 yrs ago and when he would sell it to purchase new one he would have to pay capital gain i guess.

Plz Suggest ASAP.

regards,
Sharma.
9392454427.

Rupesh Jain

Rupesh Jain (Expert)
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11 April 2014 if your father in law sell the property and to save the LTCG buy new property and after that gift the property to his daughter . gifted property not consider as tfr.

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