Income tax section

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awadhesh kumar (Querist)
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29 January 2014 dear sir,
A have residential flats in delhi.
he has two son b & c.
A has expired now b and c owner of the flats 50% each.
B sales on share 50% to C .
here my qus.. is that B may purchase commercial rented out property above to received flats payment amount...

IF YES PLEASE PROVIDE INCOME TAX SECTION AND RULE

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 January 2014 No section for exempting sale proceeds of flat if invested in commercial property.

awadhesh kumar

awadhesh kumar (Querist)
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30 January 2014 with thank for your reply

my question is can B purchase commercial property on the flats payment.

please advice me in detail ....looking for your side....

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