Capital Gain Tax on Sale of Property to Brother

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  1. ramesh12345

    ramesh12345 New Member

    i have purchased flat in 2011 . me and my father is joint owner of that flat. agreement value is 46 lakhs... at that time loan of 12 lakhs has been taken in my name.. we sold this flat to my bother in 2013 for same cost.. and i purchased his flat flat for 30 lakhs.. (I am the single owner of that flat.) stamp duty and registration done.. there is any capital gain or income tax issues... I am salaried person and took exemption in first year for loan repayment etc... please reply...
  2. Karan Batra

    Karan Batra Well-Known Member

    The property has been sold to the brother at the same price and therefore no capital gains will arise. If it would have been sold at a higher price, then capital gains tax would have been applicable
    Abhijit Guha likes this.
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