Capital gain
This query is : Resolved
Rakesh B. Surve
(Querist)
17 April 2015
I have sold 2 land in nov 13 and march 14 . I have not invested this capital gain in any capital gain tax saving bond till date.
is there any way out to save this capital gain tax now.
I have not file income tax return .
CA PARAS BAFNA
(Expert)
17 April 2015
As per the law, you were required to invest in bonds within 6 months from the date of transfer. So, the time has gone.
.
Also, you could save capital gains tax by purchasing a residential house (s.to. certain conditions) before the due date of filing the return. As the due date has also passed, you are liable to capital gains tax.
.
.
Also, you could save capital gains tax by purchasing a residential house (s.to. certain conditions) before the due date of filing the return. As the due date has also passed, you are liable to capital gains tax.
.
Nikhil Kaushik
(Expert)
17 April 2015
sir, if I am not wrong, if the person has not filed the return yet, he can still invest the money in another house property and claim exemption as the requirement is that the you need to invest before filing return under section 139 (including 139(4)
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