Long term capital gain on sale of residential property

I think it is possible because to avail exemption required to deposit into capital gain exemption fund but not on the same name  who earns the gain but however the interest on the deposit is also includes in the father's income.

OM SAI SRI SAI JAI JAI SAI

Joint accounts are not allowed in the scheme.

1. Under this Scheme an income tax assessee can avail of the benefit of exemption from Capital Gains if the amount of Capital Gains or the net consideration is deposited in any branch (other than the rural branches) on or before the due dates of their filing return of income.
    
2. The income tax assessees who are eligible for exemption under Section 54 (54B, 54D, 54F, or 54G) of the Income Tax Act 1961 may open "Account A" - which is in the form of Savings Bank Account or "Account B" which is in the form of Term deposits with an option to the depositor to keep the deposit as cumulative or non-cumulative deposit.
3. Depositor desirous of opening an account/s under the Scheme for the first time shall apply in Form 'A' in duplicate, obtaining the application from the nearest branch.
4. Opening of Joint A/c. is not permissible under the Scheme.
5. Deposits may be made in one lump sum or in stages at any time on or before the due date of furnishing the return of income under sub section (1) of section 139 of the Act.
6. In case of deposit under account 'A' , the depositor will be issued with a pass book wherein all amounts of deposits, withdrawals together with interest due shall be entered under the signature of the authorised officer of the branch. In the case of deposit under Account 'B' , a deposit receipt with principal amount of deposit, date of deposit, rate of interest, date of maturity of deposit etc., will be issued to the depositor.
7. Cheques book facilities are not permitted to CG A - Account A in view of the system of withdrawal prescribed under the Scheme.
8. The minimum period of maturity of the deposits in Account 'B'  is 15 days and maximum is for any number of years. However in the case of these accounts exemption may be available to the tax payer only if the capital gains are utilised within a specified period as per the provisions contained in Sections 54, 54B, 54D, 54E and 54G of the Income Tax Act.

The interest rate to be paid in Account 'A' (i.e, Savings Bank account) under Capital Gains Account Scheme, 1988 shall be the same as given for Savings Bank Accounts effective from march 01, 2003. The rate of interest applicable for Account 'B' (i.e, term deposit accounts) under this scheme will be as per the interest rates communicated by the bank through Deposit Interest Rates from time to time.

source : https://vijayabank.com/vijaya/vijaya/internet-en/menus/deposits/term-deposit/capital-gains-scheme.html