capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2010
A person is selling house property in this financial year the receipt of consideration is deferred to subsequent years in instalments. He will not have the funds to invest in capital gains account scheme within the time stipulated. Can he buy a new property u/s 54 within 2 years from the date of transfer and claim exemption without investing money in Capital Gains Deposit Scheme? there seems to be a case law favouring this point
12 February 2010
Please Go through section 54H which says that "If any capital gain occurs because of compulsory acquisiton by Law, then only, Time limit will be consider for Investment purpose from that date on which consideration received first time."
It means above facility is not available in all other cases.
Regards!!!
Dinesh S. Adhikari
It means above facility is not available in all other cases.
Regards!!!
Dinesh S. Adhikari
12 February 2010
agree
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