A person has made a capital gain on transfer of LTCA and qualifies for deduction under 54EC (i.e in certain bond) and 54F (in other house property).
Time limit for investment in bond= 6 months from D.O.T
Time limit for investment in capital gain account u/s 54F =is within filing of return
My question is that can the amount of considertaion be kept in saving a/c or FD for the period between D.O.T and 6 month(54ec) or return filing(54F)??
what will be tax treatment of interest income.
Yes. You can keep it in your Savings Account till the Date of Investment. The interest earned will be taxable under the head Income from Other Sources.
Regards,
Devendra K
| Originally posted by : Devendra | ||
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Yes. You can keep it in your Savings Account till the Date of Investment. The interest earned will be taxable under the head Income from Other Sources. Regards, Devendra K |
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Agreed with Mr.Devendra
Yes, Agree with devendra
Interest incone will get taxable under IFOS.
yes, you can save amt. in F.D. OR ANY SAVING A/C. BUT EARN INTEREST IS TEXABL IN OTHER SOURCES INCOME
CAclubindia
