As a part of family settlement, I want to sell my property and buy three properties from the sales proceeds for myself and my two sons. In this case,
a) Whether provisions of section 54 for capital gain are applicable since I want to sell property and then apportion the funds by way of buying 3 flats.
b) What the tax provisions under Capital Gain Tax, Gift tax or stamp duty applicable for such family settlement for me and for my two sons.
Kindly advice.
