Preclosure of 54EC bonds

Siva (engineer) (74 Points)

22 March 2021  

I have sold residential land in Oct'19 and used the capital gain [some % of it] to buy the 54EC bond rest I have parked in Capital Gain account. The same has been declared during iTR filing in FY 2019-20 and got acknowlegement from the Income Tax authorities also.

Now I have an opportunity to invest in a real estate property. I have the window upto Oct'21. Is there a way to preclose the 54EC bonds and use that amount for buying the property. If so what is the procedure like refiling FY 2019-20 ITR etc and can the experts explain.

 

Thanks.