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Capital gain

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(Querist)
24 September 2016 What is new section 54H -(extension of time limit for acquiring new assets).
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CA Sumiit B Nagpal

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CA Sumiit B Nagpal (Expert)
24 September 2016 Aa you might be aware that capital gain can be exempted by investment in residential house property , agriculture land sale etc. U/s 54,54F etc. . Also the investment had to be made within the time limits prescribed. However in case of compulsory acquisitions the transfer used to took place but the compensation/ enhanced compensation was used to be received very late . For dealing with Such an issue, the government enacted 54H to increase the time limit for investments to be made under section 54, 54B, 54F etc. And the period mentioned in that sections should be reckoned from the date when the compensation is received
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