Deduction of capital gains under section 54f

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Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2014 Dear Experts

Plz advice me on given query

If anyone has income from interest (interest on loan given to any individual in 2012) in F.Y 2012-13 can now fill income tax return and what is last date of return file in above case. Is 2 year benefit will be applicable? If yes, which return form should choose in below cases

1.If income source only from interest on Loan
2.If Income source from salary and interest on loan
3.If income source from speculative business and interest on loan
4.If income source from salary, speculative business and interest on loan

Thanks

Soni Jeswani

Soni Jeswani (Querist)

26 July 2014 IF A PERSON SOLD AGRICULTURAL LAND (URBAN) AND PAID FOR ADVANCE FOR PURCHASE OF FLAT THEN IS IT AVAILABLE FOR DEDUCTION UNDER SECTION 54F IF ADVANCE IS PAID FROM A.Y. 2012-13????

PLZ REPLY AT EARLIEST.

Nikhil Kaushik

Nikhil Kaushik (Expert)

27 July 2014 paid in AY 2012-13 should not help you. you can maximum cover payments made one year before the sale of the capital asset.

Nikhil Kaushik

Nikhil Kaushik (Expert)

27 July 2014 for FY 2012-13, you can file return upto 31 March 2015.

1. ITR -1

2. ITR1 or ITR 2 depending upon exempted income amount

3. ITR4S or ITR4 depending upon exempted income amount

4. ITR4S or ITR4 depending upon exempted income amount

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