Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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RAO (supervisory)     14 June 2015

Capital gain tax


My mother had sold an independent house and capital gain profits works to around rs.37 lacs.

She now indents to gift rs.15lacs each to my two brothers and rs.10 lacs to me. Now my questions:

1.  Whether my mother can claim exemption on total profits by making gift deeds in favour of children?

2.  NHAI/REC bonds if purchased can be redeemed in favour of the nominee/purchaser after the term  

of  3 yrs.

3.  My brother plans to purchase a house in near future.

Please advice taxation status of my mother and ours.  Thanks in advance.



 1 Replies

Jaya Pathak (Paralegal)     15 June 2015

She cannot claim exemption on total profits by making gift deed. She will have to pay capital gains tax if she makes gifts. 


She has to re-invest either in NHAI/REC bonds only or she has to buy a house to claim exemption. They can be redeemed only her in name. Nominee status will become active only in case of the death of the main holder of the bonds. 






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