Deposit in bonds from the proceeds of Capital Gain
This query is : Resolved
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,
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,
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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