Worried Father: Son in the UK Selling Property in Bangalore - Tax Help Needed!

Ans: Hello, if property is sold , then yes he definitely has to pay tax on it at 20% after indexation ( consult a CA as he will give a much precise answer in terms of tax outflow once you give him all the details )
There are multiple ways to save taxes , but my suggestion would be to pay taxes if any and to invest that money in an asset which yields good growth or a decent monthly income with growth and liquidity since your father is 73yrs old
In case of investments in Mutual Funds , you can select the following portfolio options for a retired person :
Equity hybrid - 20%
Large and mid cap - 30%
Multicap - 30%
Mid cap - 20%

Please note that these suggestions are based on your stated goals and the information you provided. It is always a good idea to consult with a financial advisor in person to better understand your risk tolerance, time horizon, and specific financial goals.

Do let me know your views on this on my LinkedIn profile, attaching my profile :
https://www.linkedin.com/in/ca-vivek-lala-21a2038b?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app

Ans: This has been answered earlier

Ans: Hi Parameswaran
The reinvestment benefit as visualized in section 54 is for residential property purchased in India and not outside India, hence the property purchased in UK would not be considered as eligible reinvestment

Ans: Sir, following are the assumption that I have made before answering your questions since the data is incomplete.
1. The property is inherited before 2 years from date of sale
2. Apart from the property is sold, you own only one house
3. The inherited property that is sold is a residential house/plot
4. New property being bought is residential house property

You can invest the Long term capital gain and claim exemption under section 54 and 54F subject to the new property is not sold before 3 yrs from the date of acquisition