Hi, My father is planning to sell his property since we are moving to different city. And planning to buy a new house in that city to avail capital gain tax exemption. The sale proceeds will be around 1cr but the value of new property to be purchased is around 1.5cr. So we are planning to invest sale proceeds to evade capital gain tax completely and take loan for remaining 50L by registering the new property under my name and fathers name as joint property.
if we do this way, can we get complete capital gains tax expempt for the sale of old property. And will there be any other issue if we register it as joint property ?