Dear Pankaj thnx a lot pls refer my Q dt 05/08 & 06/08 i have a querry 1.at the time of purchase of plot in 2003 if component of share with my wife is not mention in registry how it will be decided now at the time of selling. 2.can we both mutually now declare component of share as per our covvenience i.e 60:40 or 70:30 etc. 3.if i keep some surplus money in capitol gains a/c and decide to invest in bonds after one and half year as i could not utilise it in construction will i get the benifit of investing in bonds.
1 Answers
- If the ownership ratio is not mentioned on registration documents. I think, it will be 50:50 by default. I am not sure about this and you may consult from any legal/property expert on this.
- Capital gain bonds have to be bought within six months from sale of property. So if you are unable to use amount deposited in capital gain scheme account, you will have to pay income tax on that.
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