Long term capital gain on residential house sale

Dear Sir/ Mam,

1) Option 1- Another Residential House -

                -  If feel like buying then within 2 years from the date of sale.

               -  And if u feel like construction ur own house then 3 years from the date of sale.

Option 2 - Invest in REC / NHAI Bonds - Maximum Limit is Rs. 50 Lacs - with in 6 months from the date of sale.

Option 3 - Both Option 1 & 2

2) Sorry, no tax benefit is available if invested in agriculture land.(Don't think now you will be interested in knowing the answers of other related questions)

3) Yes, but better option is to include ur name as Joint owner.

4) Already answered - refer Point 1

5) Ya, run away from India..............:) he he he...Sorry, Just kidding..........I mean answer is No.