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Can I invest in bonds after cancellation of booking?- Property Hotline
Posted
July 14, 2016
Views
15
Likes
2
Engagement
13.33%
July 14, 2016
15
2
13.33%
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2:50Now PlayingBe Un Confused
Expert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali And Co LLP.
Question: I bought a property in 2013 and sold another property in 2014. As per the agreement, the possession date was March 2015. However, I may get possession only by the end of this year or even later. If I cancel the booking, can I put the money in bonds for 3 years? How else can I save on tax?
Answer: Since you have not got the possession of the property and since you are cancelling the booking, you will not be entitled to get the option of investing in bonds. To get the tax benefits hold the booking for 3 years and then sell the booking to another buyer. If you comply with these two conditions, you will be able to invest the gains in bonds.?
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