21 October 2010
To claim exemption whether it is necessary/mandatory to deposit amount in capital gains account scheme and then to buy a house or can we buy house directly from a s.b. account where sale consideration is deposited?
However if in the intervening period the due date of return falls i. e. suppose u sell ur house in February 2010 and purchase the new house by october 2010 then u have to compusorily deposit amount in capital gains a/c scheme to claim exemption by July 2010.
If purchased within July 2010 (assumed assessee not liable for tax audit) then no need to deposit in that account.