26 October 2012
Suppose, I sell a House property in the month of November and i propose to invest the proceeds in 54EC bonds. As we all know, the amount should be invested within 6months from the date of transfer.
My query is, Can i use the fund by depositing in any FD and gain interest (or any other purpose) before investing in Capital Gain Bonds? Finally investment made in CG bonds within 6months.
that is, can i use the funds before investing in Capital Gain Bonds within 6months? I will be investing in the 6th month..
Can i do like this? Is it allowed to utilise the funds before investing in CG bonds?
26 October 2012
Yes, You can invest the fund any where within the six month but before filing the return you have to invest the fund into specified bonds.
26 October 2012
The Act given you the six month period for investing into the specified period.
There if no restriction for investing the fund into other mode provided you have invested in the specified bond in compliance with provision of sec 54EC.
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