Capital gains scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2012 Dear all,

The Capital Gains has been invested in Cap Gains scheme and claimed xemption in the relevant F. Y

My question is that if the Person after claiming the exemption does not invest in the house, whether revised return should be filed for the relevant year of exemption or it should be considered in the current year return ????

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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07 February 2012 dear friend, it is necessary to file income tax return to get capital gain exemption. You have to submit the return and if not invested as claimed then the same will be taxed in the next previous year with interest. thanks