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Long Term Capital Gain from Property

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Rakesh Bhalotia

Rakesh Bhalotia (Querist)
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20 June 2011 One of my client has sold his land on 06.08.2007 and he had get Rs.500000 as capital gain. he has made a capital gain FD on 04.07.2008 which matured on 04.07.2011. the time barred period for purchase of flat/building is 2 year and construction of any property is 3 years. He did not purchase any flat and not invested in construcion. So what will do after receiving the maturity amount of FDR bcoz the same will be taxable. so please give us any solution for saving the tax.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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20 June 2011 NO SOLUTION TAX IS TO BE PAID NOW

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