Buying of property from capital gain fund
Dear Sir/Madam,
Our family had long disputed property which has been settled out of court recently from which I received sum of Rs 28 Lakh .
When enquired about re-investing I realize that I can utilize these fund for buying property only until then I should park this sum in capital gain account in nationalized band and use it for buying properties in next two years or I should buy government bonds which yields 6.5% annual return as a interest for 3 year.
Now my questions are
a. what are different legal options I have to get more returns on fund which I possess?
b. I dont have my own house so far, Can I invest only in land and later I can construct a house ?
c. If buying of house or flat is mandatory , can I look for land which has old tiled house or farm house where the house value is negligible and land carries the more value ?
d.Can I invest on agricultural land ?
e.What kind of tax structure is applicable ?
And your valuable advice please
Regards
Girish