Dear members,
I sold my flat on 28th november 2018. Was undecided at the time if I would go buy another property or not so did not deposit funds into CGAS at a nationalised bank. Today(22 march 2019) as of posting this query, It has been 4 months since then and the funds are deposited in FD at icici from the date I received it from the buyer. The period for investing into 54EC bonds is 6 months within date of sale of asset and it looks like I am eligible to claim the benefits thereof. However, I was told by my friend that if the funds are not deposited with a CGAS account as soon as the sale was made, I cannot avail of deduction u/s 54ec pertaining to LTCG even if the bonds are bought within 6 months. Can anyone here pls confirm if that is true or not
CAclubindia
