Query regarding capital gain / loss

Vinod Lakshmanan (Tech Lead) (47 Points)

26 July 2011  

Hi,

We had bought a house on my mother and my name jointly, in 2001 and sold it in May 2010. From the proceeds, we purchased another house on our joint names in July 2010. As per the indexed costs, there is no capital gain from this entire transaction.

The query I have is whether I need to file tax returns on my mother's name for this transaction. There is nothing else to declare for my mother. Is it necessary to file only this transaction. Please advise.

Thanks,

Vinod