Capital gain transaction: Value near to 1 crore

This discussion clarifies capital gains tax implications for property sales close to £1 crore. If your mother sold property worth £97 lakh and reinvested the proceeds into a new property, filing a tax return and claiming deductions under Section 54/54F of the IT Act is recommended. This proactive approach should prevent any income notices, especially if individual property sales were under £50 lakh, as the capital gain is effectively utilised.