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.
CAclubindia
