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Property tax on inherited property?
I am 34 year old salaried person. My father has died who is the owner of flat. My mother has sold the flat for Rs. 18 Lacs which attracted capital gain tax amounting to Rs. 2.5 Lacs. If I want to use that Rs. 18 Lacs for purchasing the new house in the name of mine and mother is not co-applicant with me. How can I save Rs. 2.5 Lacs capital gain tax.
Anup |
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In India? Hopefully someone will answer who knows tax law there.
(I would imagine that if your mother was the sole beneficiary, she will have to purchase the new property to avoid taxes. Perhaps later, if there is no mortgage, she can put you on the deed.) |
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