02 November 2012
Property purchase in Rs. 1 lakh in 1980 and construction Rs 2 Lakh in 1981-82 now the building has since been demolished.
If now we construct it(say four floors) and sell it floor wise then suppose we sale one floor in december 2012 then 1)upto what period we should sale the final floor and after selling all floors 2) upto what period we should purchase new property to avoid income tax burden.
CAclubindia
