15 March 2021
I alongwith my husband holding a residential property which was bought in abt 20 yrs ago in investment in equal ratio, We are planning to sell this property wherein are expecting to earn about 3.5 cr LTCG. We wish to invest this capital gain rather more than that in two different residential properties jointly.
1. As in this LTCG is going to be more than 2 cr, Is this limit is for individual separately?
2. Whether we can buy more than residential property? As capital gain ratio to individual is less than 2cr.
3. If yes, can we buy it jointly or two properties in individual names?
CAclubindia
