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Capital Gain bonds LTCG

29 January 2024

A property has been sold during Nov 2023 arising a gain of Rs 11,104,679 now if invest in capital gains up to 50 lakhs before march 2024 and 50 lakhs after march but before expiry of six months will i get benefit for both the bonds or only 50 lakhs would be allowed.

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4 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5686 Points)
Replied 29 January 2024

Period of Holding	(More than one year)
Tax Rate	10%

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sabyasachi mukherjee (27597 Points)
Replied 29 January 2024

Capital gain account scheme it's a separate benefit to be taken.
invest in capital bonds separate question.

Vinay Jaindani (188 Points)
Replied 29 January 2024

The query is for Bonds.

Saravanan nagaraj (463 Points)
Replied 29 January 2024

All taxpayers can avail tax benefit on the capital gains from the sale of residential property by investing bonds. Taxpayers need to invest in these bonds within six months of the transfer date of the land, or before the due date of filing the tax return for the relevant financial year.

Taxpayers must keep the investment for at least three years in those bonds. If taxpayers redeem the bonds or even take out a loan/advance against these bonds within three years, the tax benefit will be revoked.

To reinvest into bonds IT allows you within 6 months only. As you know, Investment on bonds limit Rs.50 lakhs will be allowed. To save tax next year, pay advance to a residential property and buy it next financial year.

You have separate section to avail exemption in Sec.54 and subsections.