Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 January 2014 I HAVE DEPOSITED MY MONEY IN NORMAL BANK A/C BEFORE DUE DATE OF RETURN FOR AY 13-14.I HAVE ASKED BANK IN DECEMBER 13 TO SWITCH MY MONEY IN CAPITAL GAIN A/C SCHEME.BANKER IS READY TO DO SO.CAN I TAKE EXEMPTION U/S 54 AGAINST CAPITAL GAIN INCOME WHILE FILING THE RETURN.

CA GAJENDRA KUMAR JAIN

CA GAJENDRA KUMAR JAIN (Expert)
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21 January 2014 DEAR

Consideration of sales deposit within 6 month of receipt in capital gain a/c scheme for exemption u/s 54. If you sales your capital assets in Marchou are not 2013 then you must be deposit within 6 month in a capital gain a/c scheme for exemption u/s 54. In your case you are not get exemption u/s 54 for deposit in normal bank a/c otherwise a capital gain a/c scheme.