Best way to park cash earned from selling real estate for a year

Subhodeep Dutta (3 Points)

05 March 2024  

I have recently sold a property bought booked in 2017 and handed over in 2022 . I have around 10 lakhs of capital gains without considering indexation . i plan to buy another property within 2 years with the cash received from the sale . Meanwhile , what is the best way to park this cash and avoid/reduce any further income tax earned from the returns of this cash amount . I am salaried employee and the interest amount will be taxable for me . Is it recommended to have it Fixed in a bank through my parents who are senior citizens ? I do however need it back while buying another property in the next 2 years