Capital gain

This query is : Resolved

Rakesh B. Surve (Querist)
Follow

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

CA PARAS BAFNA (Expert)
Follow

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.
.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

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)

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Dhananjay Singh

Hmr Babu

Mikilesh Shah

CA Jyoti Singh

Phani

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

CA Final

Article Assistant

GST CONSULTANT

Manager- Finance and Compliance