Capital Gain account withdrawal

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  1. pintu87

    pintu87 New Member

    Hi sir,

    my question is that the capital gain account is opened by my mother's name (she is non-taxpayer) and within 2 years if she withdraw money and I (son) will use that money to purchase a flat in my name so is there any problem in withdrawing money as the capital gain account depositor is my mother and the money is being used to purchase a property but the new property will be in my name.

    Kindly provide me suggestion in this regard
     
  2. ZED

    ZED Well-Known Member

    The exemption must also have been claimed by your mother.
    She should be the one in whose name the property should be purchased otherwise there are high chances that exemption will be withdrawn.
     
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