Long term capital gain tax

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  1. SeanD

    SeanD New Member

    DEAR SIR

    We have sold 4 very old residential flats last month.(Long term capital gain tax)
    2 of the flats are on my mothers name and she has received the money on her name for the same
    AND
    the other 2 flats are on my fathers name but he expired long ago so the money of the sale has been made equally split on bases of legal heirs between my mom, me, & my sister.
    Now I'm planning to buy one residential property JOINTLY in the name of myself & my mom. (Mom's name first & my second or vice versa) Is it possible for both me and my mom to get long term capital gain tax exemption under sec 54? If not, please suggest how do we both get this exemption under sec 54

    Thank you!
     
  2. ZED

    ZED Well-Known Member

    Answered in another thread, please do not create multiple thread for a same query.
     
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