Hello,
Myself and my father jointly purchased a site @ 5 lakhs in Oct 2002. We have sold this propery @ 42 Lakhs in this month (Mar 2011). I would like to know can i purchase a House in next month ( not planned to make this joint with my father).
Can i claim for entire amount as capital gain exemption if my father is ready to transfer his 50% share of sold property amount to my name. I am purchasing a property which is more than the sold price mentioned above
Thanks for your help
CAclubindia
