Legal Question in Real Estate Law in India

my mother in law has sold her flat in which she was living and has come to stay with us, we are also seeling our property and buying a bigger flat, she has given me all the money from the sale of the flat, now what i wanted to know is that is she liable to pay capital gain tax, she is retired and stays at home,


Asked on 10/07/11, 5:35 am

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Capital gains tax calculations depend upon host of factors. If you include her name in the bigger plot you plan to buy, capital gains tax can be avoided.

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Answered on 10/07/11, 6:12 am
Shrichand Nahar S.V.Nahar, Advocate

Unless capital gains are calculated, you can not ascertain whether there is any tax liability or not.

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Answered on 10/07/11, 10:36 pm
Sanjay Kalra Sanjay Kalra & Associates

If you reinvest the sale proceeds in immovable property within 3 years of the sale then you are not suppose to pay the capital gain tax.

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Answered on 10/08/11, 1:26 am


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