Question ID : 32779

Capital Gain

Three Ladies Joint owners of a commercial property (purchased in 1998)having 1/3 share each have gifted their shares to their husbands who are brothers also in 2018-19. And Then the two brothers have surrendered their share in favour of Third Brother same year. Now the Third Brother fully owner of the property wants to sell the property I think this will be treated as Long term Capital gain with indexation benefit available since 1998. If he purchases a residential property with the amount of capital gain I think he need not pay any Capital gain. Am I Correct?

posted by Mahesh Kumar on Aug 23 2018 12:00AM