Sale of property

Sale of property

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Sour property-related legal queries answered by S.C. RAGHURAM, Partner, RANK Associates, a Chennai-based law firm

I intend to sell my bungalow in Chennai.

It has two portions (ground and first floor), and each portion has a separate kitchen and access areas.

Can I get the benefit

of investing part of the sale proceeds in two installments in tax saving bonds by two separate sale deeds in two consecutive financial years? What is the more financially viable option?

Radhey Mohan


It is possible to sell both

the units separately with proportionate undivided

share of land based on

built-up area of each unit.

As regards the tax implications, please consult your chartered accountant.

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