54ec capital gain bonds
This query is : Resolved
30 August 2018
Dear sir,
I have sold the flat & long term capital gains have been deposited in Capital Gains Account Scheme (CGAS) in last week
of 6th month from the date of transfer since I was planning to buy the property.
After 3 months I have changed my mind & planned not to buy the property & I would like to invest amount of CGAS in REC bonds (54 EC) for next 5 years.
My query is that can I close CGAS & invest in REC bonds in order to continue availing exemption.
Regards
I have sold the flat & long term capital gains have been deposited in Capital Gains Account Scheme (CGAS) in last week
of 6th month from the date of transfer since I was planning to buy the property.
After 3 months I have changed my mind & planned not to buy the property & I would like to invest amount of CGAS in REC bonds (54 EC) for next 5 years.
My query is that can I close CGAS & invest in REC bonds in order to continue availing exemption.
Regards
30 August 2018
If you want to close the deposit before end of March and shift to Investment in REC bonds, you can do.
30 August 2018
I stand corrected.
You can invest in REC bonds till the end of 6 months from date of transfer. If you intend to invest in bonds only after 6 months,and 31st March falls in between, then you have to deposit the fund in CGAS
You can invest in REC bonds till the end of 6 months from date of transfer. If you intend to invest in bonds only after 6 months,and 31st March falls in between, then you have to deposit the fund in CGAS
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
