Purchase of Asset

 My mother and my Paternal Uncle holds a house property in joint name. Now I want to transfer the entire house to be transferred in the name of my mother and in consideration I will buy a new house in the name of Paternal Aunty. My paternal aunty do not hold any house property.

(i) Will it be possible without payment of any tax or should I purchase the house in the name of my Paternal Uncle?

(ii) I think there should not be any capital gain if I purchase the house in the hands of my uncle as entire sale proceeds would be invested in the new house.

Replies (1)

 you will have to buy the new house in the name of your uncle only and cant in the the name of aunty.

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