Capital gain account scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 February 2013
Can any1 plz suggest me:
I hav a client who has capital gain from sale of land for AY 09-10, he hadn't deposited any sale proceeds to CGAS but the objective of section 54 was accomplished by investing material portion of the sale proceeds after the due date of filing return; for buying another land i.e till nov 2011.
So how can i help him get benifited with the provisions of section 54??
I hav a client who has capital gain from sale of land for AY 09-10, he hadn't deposited any sale proceeds to CGAS but the objective of section 54 was accomplished by investing material portion of the sale proceeds after the due date of filing return; for buying another land i.e till nov 2011.
So how can i help him get benifited with the provisions of section 54??
CA PARAS BAFNA
(Expert)
09 February 2013
HE IS NOT GOING TO BE BENEFITED -NOR HE HAD LOST ANYTHING BECAUSE HE EARNED CAPITAL GAINS AND DIDN'T PAY ANY TAX. HE SHOULD THANK & KEEP FAITH IN THE GOD ONLY AS ALL THE DEAD LINES HAVE PASSED AWAY SMOOTHLY.
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