Capital Gain

1) father sold the house nov 2010

2) father got payment

3) father paid for new property 

4) got new property in march 2011

5) new property is in name of mother

a)if the sequence is right, then father has to file claim of sec 54/54F,

b) funds inflow and outflow must confirm relation between old and new property from same banking account

c) not mandatory to get the new property registered in self name.

put more details for more clarifications 

sir there was a difference that the fund of sale of property is receive in my father name and it goes to my fathers A/C and the payment for purchase of new house is from my mothers A/C and there was not any transfer i withdraw the cash and same is deposited to my mothers A/C.There was a transfer but from my brothers A/C for the difference bcoz new house is more costly than the previous one.

Please help me sir.

And what i need to tell you for more clarification please specify 

now what you will show as source of fund for mother? as the bank will report the deposit by cash in their AIR. 

withdrawl from fathers account without using for acquisition of new property disqualifies him to avail 54/54F

excess funds remittence from brothers account is ok.

now one possible way

add father as co-owner ( Joint account holder) in the bank account from where the funds have gone to the property, this will entitle father to shift his own funds to his own account.

alternate, meet any CA of your area, who will check all transactions and will guide you properly

But sir if my father becomes co owner then it does not mean that there is a transfer. Why you said that ?

And thanks sir for your guidance.

Thank you very much sir.

major deviations are

1) cash transaction at bank in name of mother 

2) withdrawl from bank without considering LTCG utilization 

LTCG utilization to aquire new property does not ask for get it registered in self name but it ask for "use of funds of sale" in "new property acquisition", and it shoud be directly related.

in case the father become joint holder in the account of payment (though its your mother's account, but fathers name will appear in pass book/ statement) then he will get right over that account, can show that account in his records also ( with no balance even), in such case he can claim that due to banking probs he had to shift the money to another bank and paid from there only.

in absence of his name in payee bank , the transaction will be as under

1) father sold the property ...............LTCG tax is to be paid by father

2) father gifted or spend the money 

no remedy available with father to save tax

now the mother

1) source of funds needed whcih is deposited to her account ( to establish gift from father, quantam of fund you can ascertain, how to manage)

2) brothers fund would be gift from son to mother

3)  all such transfers would be under suspect eye, which are done through non banking channels 

Yes sir you are absolutely right. I must try to find a wayout from this. I had filled a return of my mother earlier for 2 P/Y as she runs a boutique earlier but now discontinued.The only problem is for my fathers return.

Thanks sir for your valluable suggestion.