Prashanth Prabhu (3 Points)
12 July 2022Hi,
I sold my house in Aug 21 which attracts LTCG, unfortunately I have missed the 6 month deadline to invest in bonds issued by the IRFC, NHAI, PFC, and REC. Questions below ..
1.Can investment in sovereign gold bonds (SGB) used for LTCG exemption under section 54EC ?
2.Is there a way I can invest in the bonds (IRFC, NHAI, PFC, and REC) now in July 22 and claim exemption ?
any other solutions most welcome.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174730 Points)
Replied 12 July 2022
1. Not eligible.
2. Cannot claim exemption u/s. 54EC, as its time barred now.
3. You have chance for sec 54, deduction.
Prashanth Prabhu
(3 Points)
Replied 12 July 2022
So basically only option is to invest in another property then ? Thanks
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174730 Points)
Replied 12 July 2022
Yes, to be purchased within next 3 years, but deposit the LTCG amount in CGAS,1988 account before filing return, to avail the deduction.
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