Q: I have a property in Pune which I had let out to a tenant for several years. Since the old tenant was protected by the Rent Control Act, I could not make him vacate the premises. The tenant has now found a person who will pay him a substantial amount of money for surrendering his tenancy right. This person will also pay me some amount and I will transfer the tenancy in his name. Will I have to pay tax on the money I receive from the new tenant? Can I invest that amount in capital gains bonds so that I don’t have to pay any tax?

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