Dear Professionals,
My Father purchased a piece of land for Rs 5500 during 1984-85. After his death, the land has been sold for Rs 8,00,000.00 with date of agreement as 12.03.2013. At that point of time, I was not in position to invest the proceed for tax saving and deposited advance tax on 31.03.2013 of Rs 1,50,000.00.
Can I now invest the LTCG amount, so as to save the LTCG tax? If yes what would be the process and pLease suggest some instrument for above tax saving.
Thanks and Regards.
Pradeep Soni
CAclubindia
