How to avoid long term capital gains tax?



I, my sister and my mom are legal heirs of my late fathers property worth 75 lakhs in chennai. If we sell it do all 3 of us have to invest 25 lakhs each in a new property to avoid tax? can we buy 2 flats worth 37.5 lakhs each for myself and my sister and use my mom as joint property owner in both the flats to avoid paying capital gains tax?

How to avoid long term capital gains tax?
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3 Replies to “How to avoid long term capital gains tax?”



  1. Your mother can claim exemption u/s 54 for only one residential unit purchased. Where an assessee sold the residential house and acquired only 15% interest in another house and such other house was already used for residence prior to purchase. It was held that the benefit should be available to the assessee ( CIT Vs Chandaben Maganlal (2000) 245 ITR 182 (Guj)





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