My brother in law died leaving his mother and my sister.after his death 6 months ago. both of them became legal heir of his flat with 50% ownership.my sister bought 50%ownership of mother in law against a payment to her and becomes 100% owner.
now she wants to sell this flat and to buy a plot of land and construct a house near to her paternal house.
my question is that if she sale the flat now and make a new house with this amount does her income will be considered as STGS and she has to pay tax or she can get releif as she builts another house?
pls. reply me soon.