...Dear Sirs, I have sold an ancestral property in Sept 2017 and plan to reinvest the entire amount…
...Dear Sirs, I have sold an ancestral property in Sept 2017 and plan to reinvest the entire amount into a new project. In the absence of clarity the entire amount I have kept it in a new A/C by my name as a bank FD. The new real estate investment should happen by Sept 2018. My question is : 1. Is this amount is liable for any capital gain for the current financial year? 2. Since the amount is deposited as FD, how would the tax component be accounted for this for the current financial year? 3.Capital gain if applicable, how do I save on that for a current financial year ( without investing into govt bonds/ locking period 3 years)? Thanks,
