Urgent on capital gain exemption

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Kiran (Querist)
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26 November 2014 We are selling the property jointly owned by my parents.. since the capital gain will be too high is there possibilities they can gift property to me and sell thereon to get exemption under sec54F by purchasing a residential property in my name since I do not own any other properties as of now my parents cannot claim 54F since they already have another property ..is there time limit for donee to have pocession of property to claim sec 54F please clarify

Amol S Joglekar

Amol S Joglekar (Expert)
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26 November 2014 There is no any major change in the indian income tax act since last 7 days. The answer is same as given few days ago.
No any use of such a tax planning.

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