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Deposit in bonds from the proceeds of Capital Gain

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(Querist)
28 February 2010 Dear Members,

one of our client Received the compensation from State Govt. for the compulsary Acquisition of capital asset

he purchased a land to construct a marriage hall , however the muncipality authorities not approved the site for commercial establishment

the assessee willing to sell the land and willing to deposit the money in capital gain bonds

is it possible to deposit even after expiry of 6 months from the financial year

pls. advice - its urgent

Thanking you,
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Sohil Ganeriwala

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Sohil Ganeriwala (Expert)
28 February 2010 No, the assessee is required to deposit it within the time limit u/s 139(1) which is six months for individuals.

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