About taxation

pankaj mahajan (Querist) 11 July 2012 This query is : Resolved
Sir ,i have sell a flat ,and this flat is my mother name and she is housewife .i have open joint account in icici bank ,flat cost as per market value is 18 lac(ragister value)my ?? is i want all amt will be diposit at our joint accont ,befor the deposit 18 lac amt what doc will submited in bank and what is cycle peried of income tax and how to save in come tax and but our next plan is buying new big home

pls give suggetion....

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A V Vishal (Expert) 11 July 2012
YOUR QUERY IS INCOMPLETE, GIVE DATE OF PURCHASE AND COST, FURTHER ADVISE ONLY THEN POSSIBLE

pankaj mahajan (Querist) 12 July 2012
DATE OF PURCHESH IS 23/06/2008 AND AGREEMENT VALUE IS 7LAC RUPEES

A V Vishal (Expert) 13 July 2012
Deposit the money in a CGAS account in your mother's name. House must be acquired within 2 yrs or constructed within 3 yrs from date of sale. You cannot hold the account jointly since your mother is the owner of the house being sold.

pankaj mahajan (Querist) 13 July 2012
thanks for valuble suggestion ok

but(in CGAS) there is limitation about deposited amount so that i can deposit at specific amount (18 lac or more )....

PLS give the advise to me ...

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