Exemption u/s 54
This query is : Resolved
02 July 2011
Dear all
Do I have to submit any documentary proof of the amount deposited in capital gain a/c scheme to claim exemption or is there any other procedure to follow.
Please help
Thanks
Do I have to submit any documentary proof of the amount deposited in capital gain a/c scheme to claim exemption or is there any other procedure to follow.
Please help
Thanks
02 July 2011
Income tax returns are to be filed annexureless. Therefore, no documentary evidence need to be attached with the return of income for the Deposit under CGAS,1988. However, if called upon scrutiny assessment, the assessee has to substantiate the claim u/s 54 with documentary evidence.
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