Tax on profit of property sale

Hello,

I have a property on my & my mother's name. I am fully contributing the EMI & my mother's name is only for namesake. Property cost is 60 lacs. My loan balance is 30 lacs. Now I want to sell the property. What would be the profit proportion shared between us? Can I ask the buyer to give two cheques; 30 lacs each. I will close the loan & other cheque will be on my mother's name. How will be the tax calculated, if any?

Regards,

Prashant.