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amit (founder)     29 April 2011

where to invest money reciv after sell of property?

Hi, I recently sold my flat. It was booked in year 1992 with amount 3.5 lakh as cost of the flat. I got passion of the flat in 2000. Last month i.e. April 2011I sold the property for 40 Lakhs. 35L on paper.  I intent to buy a home in mumbai with this amount. My questions are

1. Can I invest this amount in mutual fund or share or any other money-growing scheme for one year so I can earn more money to buy home?

2. How much tax will be applicable if I don’t buy home with this money?

3. How do I maximizes my money



Learning

 6 Replies

ambrish (service)     29 April 2011

You should invest this money in property only. However, you are free to invest any where but then the risk of lossing the profit would always be there. So, invest money in property only. Before investing property you should read a guide on " A legal guide on precautions before property purchase'. Details available at https://www.advocatelive.com.

amit (founder)     29 April 2011

I want to invest money in property but It will take time to narrow down the property. till that time I dont wish to keep money ideal. I was thinking of investing in liquide mutual fund

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     29 April 2011

invest in gold ETF., simple and easy.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     10 May 2011

If you sold your house in the previous year ending on 31-03-11 and if you intend to utilise the money for purchasing or constructing another house and if it does not happen before 31-07-11, which is the last date for filing return for assessment year 2011-12, then you have to deposit the whole of such amount in Capital Gains Account Scheme with any of the public sector banks. You can withdraw the money as and when required for purchase or construction of the house. If you do not do that, you will be liable to pay Capital Gains Tax.

Andrew (sfsfsf)     20 July 2012

One of the best money making ideas recently is to participate in community banking. Banks are losing their roles as intermediate in providing loans to their participants (clients) from their own money. People start to help each other by helping with money directly. More information at https://www.income-plan.com

Aman Singh (Law Officer)     25 September 2012

In my opinion, if you really want to invest money some where, then real estate will be better choice than other. There is low risk of loss and you can also feel that property rates are growing year by year. Property demand is also increasing gardually, that's why property can give much profit in the future.

Builders and developers in Jaipur


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