Dear Experts,
Kindly advise me on the following: My friend wants to sell a residential flat and purchase another flat. The flat being sold is solely owned by him, whereas the new flat being purchased as joint owner with his son. How the capital gain benefit can be availed although the price of new flat is much higher than the realised sale value of old flat.
Thanks
GR Babu
Capital gain will be in hand of Father.
New flat purchase share cost will be his value for determination. If 50% then accordingly proportionate will be tax free
Thank you Ruchika madam
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