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
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