Capital Gain tax query

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21 Points Posted on 03 February 2021

Property is in my brother's name and there is no nomination for this property. However, he is bedridden and can't do day to day activities.

He asked me to sell his property and invest capital gain in my name. Can it be done?

Can capital gain be invested in the name of blood relative (not in the name of assessee)

 

 

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On 03 February 2021 at 12:16 Report
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This discussion addresses whether capital gains tax can be invested in the name of a blood relative when a property is in their name but they are incapacitated. The consensus is that this is not permitted for tax deduction purposes. You cannot invest capital gains in the name of a relative who is not the assessee to claim relief.

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10683 Points Posted on 03 February 2021
No. This is not allowed for getting deduction.
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On 03 February 2021 at 20:11
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54 Points Posted on 05 February 2021
No you are not eligible
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On 05 February 2021 at 11:19

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