Capital gains offset against property in parents name

As per income tax laws, you can claim benefits under Section 54F for capital gains exemption if:

 1. The property is purchased in the name of your mother or your name.

2. You are the sole owner of the capital asset (equity) transferred.

3. The property is a residential house. However, since you're planning to purchase the property in your mother's name, you might not be eligible to claim Section 54F benefits directly.

 Nevertheless, you can explore other options:

 1. Consider purchasing the property in your name or jointly with your mother to claim Section 54F benefits.

2. If the property is in your mother's name, you may not be able to claim this exemption.

Regarding loan prepayment, you can claim exemption under Section 80C for repayment of the home loan principal amount, but not specifically under Section 54F.

 It is not mandatory to have your name on the property title to avail of the home loan or claim exemptions.

However, being a co-applicant and contributing 90% of the cost may have tax implications.

Please note that tax laws are subject to change, and individual circumstances may