Share Of Property | Vkeel - Free Legal Advice

Sharmesh

Mumbai

I xyz has one flat ownership value RS 4 cr..I had two son..I want to buy two flat of 1.5cr each..if I buy two flats than I have to pay capital gain..but if I give gift to my wife 50%share and I sell my flat..now I and my wife can buy new property of same above and make a will on two sons name..is it fair to do this procedure. any capital gain..

Expert's Answers(2)

Advocate N Karthikkanna
Madurai, Tamil Nadu

60 Client Ratings

only when u sale and retain the sale consideration amount in bank i.e. without utilising for other purchase over a financial year you'll be taxed for capital gain.. better consult an Auditor..

April 13, 2018
Advocate Krishnan Balakrishnan Nair
Pune, Maharashtra

1 Client Ratings

You should speak to your Chartered Accountant (C.A.)

April 12, 2018