विशेषज्ञ की सलाह चाहिए?हमारे गुरु मदद कर सकते हैं
Piyush
T S Khurana 479 Answers |Ask - Follow
Tax Expert - Answered on May 14, 2025
Asked on - May 12, 2025
My mother has sold a residential property and wants to share its proceeds with me and my sister and my father ? Is it possible for all three of us to invest in residential property in our respective name and save LTCG ?
Ans: 01. To get Exemption u/s 54 from LTCG, your mother can invest in a Residential House, with in time limits.
02. Maximum 2 houses can be purchased/constructed, if LTCG is up to Rs.200.00 (L). This opportunity is available only once in a life time.
03. She may purchase the houses in her name or in the name of her spouse or her children (My opinion is based on the decisions of the ITAT).
04. Please also note that only your mother can purchase the residential property & get exemption. The property may be registered in the name of her spouse/children, BUT payment should be made directly by her.
However, if she transfer the amount to all three of you & you purchase the property, exemption will not be available.
You can review your tax planning in light of above details.
Most welcome for any further clarifications. Thanks.
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02. Maximum 2 houses can be purchased/constructed, if LTCG is up to Rs.200.00 (L). This opportunity is available only once in a life time.
03. She may purchase the houses in her name or in the name of her spouse or her children (My opinion is based on the decisions of the ITAT).
04. Please also note that only your mother can purchase the residential property & get exemption. The property may be registered in the name of her spouse/children, BUT payment should be made directly by her.
However, if she transfer the amount to all three of you & you purchase the property, exemption will not be available.
You can review your tax planning in light of above details.
Most welcome for any further clarifications. Thanks.