Hello,
I am in the process of buying a 2BHK property while my father has sold his property. We have thought of 2 scenarios:
Scenario 1
Now I am planning to sell my property to my father so that he does gets taxed on Capital Gains. Likewise I will be able to use the money from this sale for buying the 2BHK property.
Can a son sell property to his father/parents such that father is also able to stay away from Capital Gains Tax?
Scenario 2
We plan to have ownership of the new 2BHK property as follows:
1st owner: My wife and I
2nd owner: My mother and father
In scenario 2 can father obtain a benefit of not paying Capital Gains Tax ?
