Hi Experts,
My mom has a plot that was purchased in 1988. We wish to sell it due to some financial constraints - hence the proceeds from the sale may not be used for purchasing another property etc. The proceeds of the sale must be ultimately transferred to me for further transactions (I already have a house property in my name).
Hence, is it better (from capital gains tax perspective) to sell the plot and then the money be given as gift to me, or should I transfer the plot in my name as a gift from my mother and then sell it?
Any information on how to handle this is greatly appreciated.
Thanks,
Sanjay.
CAclubindia
