I am going to sell my residential plot,and invest the entire amount in specified bonds,for claiming exemption,from LTCG tax ,within 6 months from the date of execution of saledee
d.For this purpose whether I have to open a separate CG SB a/c,or i can keep the same into my existing SB a/c(without withdrawing the sale proceeds).
If you are going to purchase bonds within 6 months and claim the Deductions u/s 54EC then you need not to open any Separate Account. All you need to do is just invest the amount of Capital Gains into bonds.
Also, There is no mention of CGAS u/s 54EC.
CAclubindia
