I am Suresh Bharadwaj from Hyderabad.
My mother has a flat in Hyderabad, we are planning to sell it off and our plan is to buy an individual house. But to buy a individual house the amount gained by selling the flat is not sufficient so I have to take bank loan to buy the individual house. Bank gives the loan on my Name to buy the house. To reduce the capital gain tax, my mother has to show the money gained by selling the flat is being invested in buying another house.The problem here is property should be on my name to get the loan. the property should be on her name to avoid the tax.
As per the formula given in your site if we have to pay capital gain tax that will be around 4,50,000/-
Kindly suggest if there is any approach to avoid the Capital gain tax.
