Myself &my brother are having each 1 ground of residential land,in our individual name.Since the plots are adjoining to each other and the buyer is same,we executed the sale deed ,jointly ,after mentioning the detils of the each land holding,and the sale amount,and also mentioned our pan numbers.Now each of us want to invest in
NHAI bonds for 50lakhs each.Advise we are in order.
First of all it is better and advisable to execute seperate agreements for each plot.
As far as investment in NHAI bonds ( Under 54EC) , you both will get upto 50 lakhs each subject to investment within a period of 6 months from date of sale.
CAclubindia
