17 February 2017
Hello All I want your guidance in regards to the capital gain scheme account. My client has deposited a amount of his capital gain on sale of property in the capital gain scheme account for 1 year for taking exemption u/s 54 on 31.7.16. and he sold the property in Feb16. But he is not able to take other residential property within 1 year from the date of sale , can he extend time of the FD done in the capital gain scheme to another 1 yr? What will be shown in the return for the assessment year 2017-18? Pl advise. Regards
CAclubindia
