Date for Investment in Bonds of REC extended!

Property worth 10 lacs which was in my mother’s name was sold on 4th march 2006.My queries are:1. Do we need to pay capital gain tax for this amount.?2. Since 54EC bonds are not available with Govt. what are the option left in order to save the tax. Dec.06 was the last date for investing [...]

Save on Tax if Property Was Purchased before 1/4/1981.

My inquiry pertains to India only. The answer must relate to Current Indian Tax Laws.My mother has got land as gift from her parent. The land is ancestral property. My mother wants to sale it and she expects decent profit on this sale. She intends to reinvest the money in the purchase of new land. [...]