Long term capital gain from agriculture land in urben area

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This query is : Resolved

shailesh (Querist)

19 July 2016 i sold a agricuture land in urben area as on 30/10/2015.
from that i am taxabel for sale considration and i earn capital gain out of it,

now up to which date i can deposite the capital gain amt to the capital gain account scheme in bank so that i will got examction for tax?????

A) is it before due date of filling return ??
or
B) whithin 6 month of sale consideration????

Amol S Joglekar

Amol S Joglekar (Expert)

19 July 2016 see, if you are purchasing 54EC bonds, then limit is 6 months
but if you are going in for say...house and then choice of house is not yet complete, then you can deposit the amount in a SPECIAL deposit account, maintained by any NATIONALISED bank, before 31/07/2016

shailesh

shailesh (Querist)

20 July 2016 ok sir,
we are going for purchasing agriculture land and we had made the part payment but due to some reason the sale deed of that purchasing property is not done yet and it will take some time may be 2-3 months.
so i am planing to make remaing amt as a capital gain act scheme.
so is it ok ??
thank you for advise and rpy...

Amol S Joglekar

Amol S Joglekar (Expert)

21 July 2016 you are most welcome.

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