Dear Sir/ Madam,
Following are the details of my 2 BHK flat...
Purchased in 1963...
Falt is on my name (70%) & my sister's name (30%)
Went for redevelopment in 2014...
Got back the possession in the form of 3 BHK on 4 th Jan' 2018...
We are in possession of the said flat till date, i.e., since 1 year & 4 months...
My Querry is as follow:
1) Can we sell our flat after 1 year & 4 months of getting possession as we are planning to relocate in Gujarat?
2) If yes, then are there any rules for exemption or reduction in gain tax?
3) Are we going to be eligible to deposit 50 lakhs each in govt. bonds for a period of 3 years?
Please help me in answering my query in detail...
Thanking you in anticipation...
Best Regards...
Prakash Ajwani..
