Capital gains account scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 June 2014 Sir,
If an assessee claims exemption u/s 54 as well as u/s 54EC then is it possible for him to claim exemption by depositing some amount in the Capital Gains Account scheme or not?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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04 June 2014 for 54EC you need to anyways invest within 6 months of the accrual of the capital gains. so no point in depositing in CGAS account to that extent. For the amounts you want to claim exemption under 54, you can deposit under CGAS account

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