Hi,
I have a home loan ongoing for a flat and my father wants to reduce my loan outstanding principal by selling his land and diverting the money into home loan. I am the only owner (no co owner) for this flat. The land is owned only by my father and is well over 3 years old. Since my father is not co-owner of this flat under home loan, is there a way for my father to divert the money (including gains) without paying tax? Please advise.
Thanks