Capital gain account

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  1. Ajay Savalwade

    Ajay Savalwade New Member

    Respected Sir/Madam,

    Scenario : I am having 2 BHK flat in Pune. Want to sale and buy 3 BHK flat. (possession after 3 years from now i.e. July 2017)
    I am selling 2BHK flat to my relative.
    For 3 BHK flat I have to pay in installments. So I don't need money of 2BHK at once from my relative.
    In this case can I open capital gain account and ask my relative to deposit amount of 2BHK in installments
    and can I pay same amount for my 3 BHK flat?

    Regards

    Ajay Savalwade
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Dear @Ajay Savalwade

    1. If you sell the flat in this Financial year, the last date to deposit the amount would be 31st July 2015.

    2. Better to receive the funds in your Bank Account and then transfer them to the Capital Gains Account.

    3. You can withdraw the money from Capital Gains Account in installments to pay for the purchase.
     
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