Exemption of long term capital gains
24 July 2019
WHERE THE PERSONS HAS MADE LONG TERM CAPITAL GAINS, TO CLAIM EXEMPTION HE HAS TO INVEST IN NEW ASSET BEFORE THE LAST DATE OF FILING INCOME TAX RETURNS OR DEPOSIT IN CAPITAL GAINS DEPOSIT ACCOUNT. NOW FOR AY2019-20, THE LAST DATE HAS BEEN EXTENDED TILL 31/08/2019.
THE QUERY IS IF INVESTMENT IN NEW ASSET IS MADE OR IF DEPOSIT IS MADE IN CAPITAL GAINS DEPOSIT ACCOUNTIS MADE BEFORE 31/08/2019, WHETHER THE PERSON CAN CLAIM EXEMPTION FROM LONG TERM CAPITAL GAINS?
THANKS & REGARDS
31 May 2020
The investments needs to be made within the time allowed as per acts and has nothing to do with the due date of the ITR