54ec capital gain bonds

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Rahul (Querist)
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30 August 2018 Dear sir,

I have sold the flat & long term capital gains have been deposited in Capital Gains Account Scheme (CGAS) in last week
of 6th month from the date of transfer since I was planning to buy the property.

After 3 months I have changed my mind & planned not to buy the property & I would like to invest amount of CGAS in REC bonds (54 EC) for next 5 years.

My query is that can I close CGAS & invest in REC bonds in order to continue availing exemption.

Regards

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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30 August 2018 If you want to close the deposit before end of March and shift to Investment in REC bonds, you can do.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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30 August 2018 I stand corrected.

You can invest in REC bonds till the end of 6 months from date of transfer. If you intend to invest in bonds only after 6 months,and 31st March falls in between, then you have to deposit the fund in CGAS

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