I live in Nashik , Maharashtra. I have a residential apartment in the name of my Mother alone.
We want to sell this property and invest the capital gain amount in another property.
1. How much time do i have to invest the amount in property to avoid income tax?
2. I have power of attorney of selling the property. So can i sell the property with power attorney and
receive the entire payment in my Name instead of my mother. In that case do i have to pay income tax as
the property was in name of mother.
3. If the payment is in the name of mother then Can we purchase joint property in my name and mothers name of the capital gain amount. In that case what deed has to be made so that my mother transfers her right in my name and the property is in my name in society. Which deed has to be made for converting joint holder to sole holder with minimum Stamp duty and Income tax liability.
4. Can we sell Residential apartment and invest the capital gain in Empty plot for saving income tax
