My father, has sold a propoerty for 7.5 lacs, 3 years, and invested the amount in the Rural Electrificaiton bond, to avoid the Tax. But againt this REB, he has got a loan from SBI against it.
Now, I intend to buy a individual house apart from one where we live, with that REB money(which matured last month) and put in my part in it. lso intend to continue his SBI loan and complete the tenure
Will he need to pay the capital gains tax. Can we both together joint buy the property, though we have different PAN
