Capital gain and exemption

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2012 mrs A has exchange a gala in the same premises . from this traction she gain long term capital gain.
her brother in law want to book the flat under the re development project . can mrs A invest the long term capital gain in her brother in law's property(intend to purchase flat under construction through re development project) . if this traction will be carried out ,then mrs A will be co-owner of that property.
how to determine the percent of shares of ownership right getting by mrs A and his brother in law?

Amol S Joglekar

Amol S Joglekar (Expert)

02 August 2012 normally the % of share is decided as the proportion of investment made. The same rule is applicable here.

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2012 sale deed is made on 4 April 2012,what the due date to make the investment ,so exemption is available.

Amol S Joglekar

Amol S Joglekar (Expert)

14 August 2012 for purchase 1 year before or 2 years after and in case of construction 3 years after. The wording of sale deed will decide whether it is PURCHASE or CONSTRUCTION. The redevelopement schemes agreement needs to be read in very carefully for this purpose.

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2012 if NABARD BOND WILL PURCHASED ,WHAT IS THE TIME LIMIT TO PURCHASE IT?

Amol S Joglekar

Amol S Joglekar (Expert)

20 August 2012 on or before 3/10/2012

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