Dear Sir / Madam :
My mother sold a flat and the Long Term capital gains amount (after indexation and incurred sales expenses) is 1.45cr.
We are 3 brothers. To avoid tax and to invest this CG amount, 2 of the brothers opted to invest their share of the amount (45.2 lacks each) in capital gains tax bonds in my mothers name (with their respective names as nominees). The 3rd brother would like to invest his share of the amount in property. I hv the following questions ...
a. Can the property be registered in the name of the 3rd brother with his share of money ?
b. If yes, will CG Tax have to be paid ? who has to pay this tax and how much percentage/amount ?
c. Can the property be bought in the joint names of mother and 3rd brother ? If yes, in the future after our mother passes away, will the 3rd brother automatically become the sole owner of the porperty or will he have to share the property with the other 2 brothers ?
d. What is the best option to invest the share of the 3rd brother which is least complicated and no/least tax payable.
Thank in advance.
