Mr. X has recd. 2.5 cr out of sales of shares of a privately held company(unlisted)& these shares are in name of 3 people of a family..Kindly tell me whether..
1) Indexation can be applied here..
2) If the entire amount is invested in residential property & the original shares are in name of 3 people, how many properties can one buy..one for each ?
3) If the property is not at the same value for all the involved people, can one be bought for higher amount by using up part money of the other two ?
4) Can more than one property be bought in one name?
5) If 2 cr are invested in house & rest 50 lacs in nhai/rec, will the 2 cr be taxed as partial investment??