My parents had sold a property 2 years back. They received 15 lac from its sale. It has been 2 years now but they still have not invested that amount anywhere. As per my understanding, it should have been invested in 2 years' time. One month to go for that. Please suggest ways it can be invested aside from property purchase so as to avoid paying tax.
Asked 4 years ago in Income Tax
If I invest the amount of 15 lac in capital gains account now, when 3 weeks to 2 years are there, will I get extension to use that money for buying a house without inviting any tax? Say, I had received the amount of 15 lac in October 2017 but I invest it in capital gain account in September 2019 then by what period should I buy a new house to save tax?
Asked 4 years ago