Avail 50% discount on all online CA classes for Nov Exam(access till Nov 20th). Use coupon code NOV15

close x
Home > Experts > Income Tax > Sec. 139(1) or 139(4)

Please Wait ..

to your account


Remember Me | Forgot your password?


Sign-up now

Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Alternatively, you can log in using:

Sec. 139(1) or 139(4) (Income Tax)

Report Abuse
This query is : Open

( Author )
21 February 2009

Sec 139 (1) and sec 139(4) give different due dates. Since, the return u/s 139(4) can be submitted before the expiry on one year after the relevant Assessment Year is over.


1)An assessee having capital gain do not acquire the property and also do not make deposit in the capital gain account prior to the due date u/s 139(1) and

2) Subsequently he procures the property after the due date u/s 139(1) but before due date u/s 139(4); can he claim the exemption in the return filed u/s 139(4)?

3) Property is to be acquired within 3 years of transfer of the original property through which capital gain is accrued; what if; he makes such investment in the property after the due date 139(1); since the new property is purchased within the time frame as given in Sec 54(F)(1); is the exemption allowable?

4) What if the return u/s 139(1) is filed within the time allowed u/s 139(1) and later on the property is acquired. Can the revised return within the time frame allowed to revise the return; be submitted to claim the exemption?

Any recent case laws?



You need to be the querist or approved CAclub expert to take part in this query .

Click here to login ( Members Login ) now

Similar Resolved Queries :


Quick Links

back to the top