Results for #advisable

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Answered on November 09, 2017
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  • Yes, there is nothing wrong in acquiring property in such manner. However it would eventually depend on facts of each case i.e. who is paying for the flat, what is to happen of the flat post the death of the parties in whose favour it is to be bought etc.

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    Answered on November 09, 2017
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  • Since the Pune Flat is owned by your mother, capital gains will arise to your mother. By investing in another residential flat exemption u/s. 54 of the Income Tax Act can be claimed upto a value of subsequent purchase.
    Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe...
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    Answered on November 09, 2017
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  • This is subject to the terms of the agreement with the institution. Certain banks have a prepayment penalty that needs to be paid. However, if the loan period left is considerably high, it may be a good option to pay the balance amount because the interest payment can really pile up over a long period of time. However, you should also consider your individual tax implications/exemptions while d...
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