Sale of property
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?
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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