Regarding capital gain
This query is : Resolved
29 February 2012
An ancestral property was sold off and the first installment of the money given in June 2011. I did not put it in section 54ec tax saving bonds. please suggest if this can be done now by paying some minimal tax or do i have to pay a flat 20% tax
01 March 2012
You can deposit the same on or before closer of financial year.
01 March 2012
I did not get what you meant by deposit the "same". Deposit the tax or buy the 54E bonds before the financial year.
01 March 2012
buy the bonds
01 March 2012
But the rule states that it has to be done "within" 6 months of getting amount. Since the promoter is giving the amount in a staggered fashion , my mother got the first installment on June 1st. 6 months in that case was December 1st. Won't it matter if i invest it after 9 months. please suggest.
01 March 2012
I believe that in the first installment itself, you have not earned any capital gains...
Also as per law 54EC bond investment has to be within 6 months from the date of transfer or sale of capital asset and not from the date of receipt.
However, in case if you have not met the deadline, then it is always better to pay it off on or before the end of financial year.
Also as per law 54EC bond investment has to be within 6 months from the date of transfer or sale of capital asset and not from the date of receipt.
However, in case if you have not met the deadline, then it is always better to pay it off on or before the end of financial year.
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
- GST Regis.
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Filing of Form 10BB instead of Filing Form 10B
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- MIS MATCH OF INVOICE NUMBER
- 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?
- Query for dubts
Trending Online Classes
CAclubindia
