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Capital gain

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(Querist)
09 November 2013 What is the time limes for reinvesting amount to get exemption in capital gain tax.

If I sole my property on December 2013 can I avail the exemption up to November 2014
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CA Sanjeev Kumar

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CA Sanjeev Kumar (Expert)
09 November 2013 It should be reinvested before due date of filing ITR in general, otherwise, penalty for concealment may be imposed on you.

Thanks
Sanjeev
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
09 November 2013 TIME LIMIT AS PER U/S 54 IS PURHCAE OF ANOTHER RESIDENTIAL PROPERTY 1 YEAR BACK FROM DATE OF TRANSFER OR 2 YEARS FORWARD FROM DATE OF TRANSFER . FOR CONSRCUTION IT IS 3 YEARS.

YOU HAVE TO DEPOSIT THE ALL IN CAPITAL GAIN DEPOSIT ACCOUNT TILL DATE OF INVESEMENT .

FOR DETAIL ANALYSIS YOU CAN CHECK ON BELOW LINK.

https://www.simpletaxindia.net/2011/11/capital-gain-exemption-5454b54ec54f-at.html
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