Sale deed from son to father

santha (Querist) 01 February 2016 This query is : Resolved
since I do not have enough time to buy a property with my capital gains fund from a third party --is it possible to buy a property from my son using the c gain fund and also by paying registration charges and stamp duty accordingly.
kindly let me know the advantages and disadvantages by this method --both of us are I.T assese

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ramaraju ramaiah (Expert) 02 February 2016
you have stated in your query no time to purchase from 3rd party is not good reason department had not believe you statement. Hence it better to purchase from third party with capital gain. moreover son had to prov his source income to meet the expenditure