https://www.taxtmi.com/manuals?id=980 Any transfer of a capital asset in a reverse mortgage transaction under a scheme notified by the Central Government is not regarded as a transfer for capital gains purposes. The provision applies to an individual transferor, with any person as transferee, and contemplates residential house property as the capital asset involved. The amount of loan received by a senior citizen under such reverse mortgage, whether in instalments or as a lump sum, is exempt from income tax under the specified exemption provision. en-us Wed, 26 Aug 2015 09:58:00 +0530 Thu, 28 May 2026 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=980 Any transfer of a capital asset in a reverse mortgage transaction under a scheme notified by the Central Government is not regarded as a transfer for capital gains purposes. The provision applies to an individual transferor, with any person as transferee, and contemplates residential house property as the capital asset involved. The amount of loan received by a senior citizen under such reverse mortgage, whether in instalments or as a lump sum, is exempt from income tax under the specified exemption provision. Manuals Income Tax Wed, 26 Aug 2015 09:58:00 +0530 https://www.taxtmi.com/manuals?id=980