Capital gains tax
This query is : Resolved
Partha Chattopadhyay
(Querist)
31 March 2019
On selling an ancestral residential house, a capital gain of Rs 2 lakh was made during 2018-19.Now, because of 31st March being a Sunday (Holiday) it is proposed to purchase a capital gains bond (Rural Electrification) of Rs 2L during the week ending on 6.4.2009. Can I claim tax relief for AY2019-20 though I am late by a week in purchasing this bond? Looking for your opinion..
K Srinivas, CMA CS
(Expert)
31 March 2019
Investments in RECL/NHAI bonds needs to be done within 6 months from the date of transfer. In other words, you are not late to invest and you still have time to invest and take Exemption
01 April 2019
https://www.lawyersclubindia.com/experts/Tax-on-capital-gain-704621.asp
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