Buying new house.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2012 I & my husband had purchased a house in 1993 for Rs.3,24,720 in joint name which I sold in Jan 2012 for Rs.31,00,000.Now we want to buy 2 or more houses with this money as a investment for our old age Can we buy them on separate names? I also wanted to know that if we want to pay the long term capital gain tax how much will we have to pay & can we use that money for other investment purpose as we are retired.

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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09 December 2012 Yes you can buy houses separately, liability of Long term capital gain will depend upon the fact that what is your ownership ratio in property and how much cost was born by you both,

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2012 Thnx 4 reply.Please tell us that how much money can we use to do other exp. than purchasing new houses?

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