Selling my flat to my father to save capital gain tax

Hi , 

I am planning to sell my flat to my father to save capital gain tax. Is it legally allowed . my father has sold a plot which has some capital gain tax.

Thanks 

Rajesh

Replies (2)
Quick Summary
Rajesh is considering selling his flat to his father as a strategy to reduce Capital Gains Tax liability. He's seeking confirmation on the legality of this arrangement, especially since his father has also recently sold a plot of land which incurred capital gains tax. The advice suggests that such a sale is permissible provided the sale deed is registered with the Sub-Registrar and stamp duty is paid, though land sales don't qualify for capital gains tax exemption on purchasing residential property.

Yes, if Sale deed registered with Sub-registrar with stamp duty duly paid.

Land you cannot claim exemption if you purchase a house property.

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