My mother house (A) is sold after my mother. we got capital gains in Sep,2018
From past 10 years ,my parents were paying money for another house(B), we got it for registration now i.e. Jan/Feb 2019. It will be registered on me and my father name both.
Above mentioned both houses are approx same registration value.
Q1. Will l/we get any advantage of not to pay capitall gain tax on (A) as we are getting house (B) registration?
Q2. What will be best method to get capital gain exception?
Q3. How much Capital gains I will get ? How much my father will get?
Truth is we don't have any money(capital gain money) left right now as ,we cleared all our loans(not bank) from friends and outside bank loans, which my parents have from ages.
Tell me best way to deal with this.
CAclubindia
