Who is liable
This query is : Resolved
17 July 2015
Dear experts,
one senior citizen mother sold her property in her name and purchased another in her SON's name....
so my question is whether mother can do this or Son will be liable to pay Capital gain on this ?
one senior citizen mother sold her property in her name and purchased another in her SON's name....
so my question is whether mother can do this or Son will be liable to pay Capital gain on this ?
17 July 2015
Mother can't do this, it can be in joint names of mother and son.
Only mother will be liable for capital gain tax.
Only mother will be liable for capital gain tax.
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