13 October 2017
Mr. A has purchased open plot of land in the year jan 14 for Rs 3400000/- lakhs expended legal (stamp duty) Rs 3800000 in march 2017 & sold plot on 20/04/17 for Rs 29000000/-
Now he is going to invest Rs 48 lakhs in capital gain bond(u/s 54 EC)
balance of Rs 17500000/- he is going to puchase other than house proprierty, period for investment is til 31 st july 2018 Is correct? what is period of investment ? pl guide
13 October 2017
Considering the purchase was in Jan 2014 and sales was in April 2017, 2 years has completed and the transfer is long term. In this case, investment in bonds must be done within 6 months from date of transfer i.e october 2017.
CAclubindia
