Ltcg

chinu (Querist) 22 June 2014 This query is : Resolved
1. We sold our ancestral property for Rs 15360000/-.For three of us,my elder brothers in law and me (my husband died 6 years ago) the share came as 5120000/- each. We are put up in different cities and are not in talking terms.
2. The problem is that I will be investing my share in capital gain account but what if they don’t do so.
3. Although in the sale agreement pan nos. and names of all three of us are written and it is also mentioned that the amount is divided in three of us with the details of D.D. Nos. given to us at the time of selling.
4. Can I go forward with my investment calculating the long term capital gain tax for my amount i.e. for Rs 5120000/- and invest in property later.
5. What if they also are putting their share in buying property? As far as I know you can buy only one property after selling one property.
6. The property was purchased in year 1959 for approx. Rs. 27,000 and sold in year Dec. 2013
Please guide me asap.

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