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

Samkit

Samkit Maniar  |174 Answers  |Ask -

Tax Expert - Answered on Nov 10, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Rajan Question by Rajan on Nov 07, 2024Hindi
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Sir, Now my son is in UK for the last one year. He want to sell a property in Bangalore purchased 15 years back at Rs.30 lacks, and wants to sell it at 120 lacks and purchase a property in UK. In which way we can get exemption from capital gain tax. regards. p v rajan

Ans: Unfortunately capital gains exemption will not be available in your case since for getting such exemption the property purchased needs to be in India.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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