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Buy second home within two years of first’s sale

DNMUM402032 | 12/1/2017 | Author : Harsh Roongta | WC :744

Personal Finance

I am 58 years old working in private sector, and will be retiring shortly. Kindly advise what will be the best mode of investment for provident fund (PF), gratuity, etc., which is Rs 75 to 80 lakh approximately, in order to get income of about Rs 35,000 to 40,000 per month regularly. The risk involved should be least and with guaranteed income. Secondly, I own a flat in Navi Mumbai, and wish to sell this flat as I plan to settle in Bengaluru, Karnataka. The flat’s cost may be in the range of Rs 75-80 lakh, whereas my flat in Navi Mumbai may fetch me approximately Rs 1.4 crore. What are the tax implications? I also own a plot at another location in Karnataka, so, would it be possible to avail the tax benefits if I construct a house on
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