Income tax

Querist : Anonymous (Querist) 18 January 2012 This query is : Resolved
As we have sold residential ancetral property in july 2011 in which myself and my three sons got their shares and me and my three sons is having a one residence my query is can we all purchase residential flat by way of booking of flat under construction shall it is allowed

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A V Vishal (Expert) 18 January 2012
Yes it wi be allowed

Raj Kumar Makkad (Expert) 18 January 2012
Yes this can be purchased within 3 years of the the sale deed of your previous house.

Querist : Anonymous (Querist) 24 January 2012
also If i have purchased property of Commercial in July 2011 can i proposed to invest in residential construction flat

Sailesh Kumar Shah (Expert) 24 January 2012
@Makkad Sir

is within 2 years after the date of transfer not 3 years.

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