CAPITAL GAIN

This query is : Resolved

rajat (Querist)
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22 January 2010 HI ALL!!!!

IF WE SOLD A JOINT PROPERTY .WE WANT TO SAVE CAPITAL GAINS .WE WANT INVEST IN CAPITAL GAIN BONDS.PLEASE TELL ME:-

1- WHICH CAPITAL GAINS BONDS WE HAVE TO INVEST AND WHERE WE CAN INVEST PLEASE PROVIDE LINK.

2-WHAT IS MAXIMUM AMOUNT WE CAN INVEST

3-WHAT IS CURRENT INTEREST RATE?IS PAID CUMULATIVE OR YEARLY/MONTHLY/QTLY .

4-IS INTERSET IS TAX FREE.

5-AS WE HAVE SOLD JOINT PROPERTY CAN WE INVEST WHOLE AMOUNT IN THE NAME OF SINGLE HOLDER.

THANKS IN ADVANCE

CA A RAMVEL

CA A RAMVEL (Expert)
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23 January 2010 Hi Rajat,

As you had clearly mentioned that the property is jointly held, capitan gain arises for both. You can invest in REC bonds. The lock in period is 5 years. However you have the option to redeem after 3 years. You can get interest halfyearly. Follow the link for further details http://recindia.nic.in/54ec.html.

regards

Ramvel