Sale & Purchase

Sale is a transfer of ownership in exchange for a price paid or promised or part paid and part promised. The transfer by way of sale of tangible immovable property of the value of rupee one hundred and above can be made by a registered instrument. It is advocated that the entire money obtained from selling the house should be invested in purchasing another property within a time period of two years or constructing a property within three years, in order to avoid the payment of taxes after selling a property.