Cap Gains Exemption if Father & Son are co-owners

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  1. rajeshtiwari

    rajeshtiwari New Member

    HI ,

    My Father has one house and two land .
    He has sold one land that he is holding from last 20 years .
    so Now As per My understanding
    1) He can avail Capital Gain Tax exemption if he buy a house.
    2) We are planning to buy a property that cost 80Lakh . The amount He has Recvd is 40L .
    Can I take loan and buy the Property as co-owner . My query is whether Me and My Father can invest in same Property and my father can avail capital Gain Exemption .

    Kindly Let me know your opinion .

    Thanks
    Rajesh
     
  2. Shishir Nayak

    Shishir Nayak Member

    Parul_Gupta likes this.
  3. rajeshtiwari

    rajeshtiwari New Member

    Thanks Shishir for the Information.
    Me and My father has booked one flat in 2011 that is not yet registered. If I include this as a prt of property still can my father avail long term capital gain exemption .

    Thanks
    Rajesh
     
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