Dear all,
My mother purchased a land in my name (when i was child) 30 years back. I have 3 sisters also. Now i am planning to sale the land and share the amount in particular ratio with my sisters. Since property is my name. 1 )have to bear all capital gain tax? 2 ) i have pay tax for my portion only ? and also suggest me how to avoid tax ? 3) I have already had house which i bought through house loan, if i repay the loan from the sale of property, shall i claim capital gain exemption?
Saran
CAclubindia
