Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Capital Gains

Save Share

This query is : Resolved

santosh (Querist)
Follow

12 September 2010 Hi Sirs,
HAPPY GANESH CHATURTHI TO ALL
My brother has sold his flat in march 2010 for Rs. 25lac which he had purchased in 1994 for Rs. 7 Lac. He is also a businessman who has to get his accounts audited U/s 44AB since his turnover crosses 40lac. He will be constructing a new house very shortly till that time he has to keep his money in Capital Gain Account in bank, which he has to do before filing of return. Now my question is which is the due date is it July or Sept bit confused because on Capital gains due date was July & for Audit it is Sept.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

12 September 2010 Section says it shall be deposited on or before the due date of furnishing the return of income under section 139(1) meaning thereby,in the cited issue, 30th September is the cut off date.

santosh

santosh (Querist)
Follow

12 September 2010 Thank You

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