08 July 2011
1) When I sell a property in Jan 2011, and invest the LTCG in April in 54EC bonds, in which assessment year am I to report the LTCG as well as the 54ec BOND INVESTMENT. Can I report it in AY2011-12 even though thge 54EC invest is in April? 2) I have a short term capital loss in AY 2009-10, say 20000. I use up part of this, 5000 in AY 2010-11 against a STCG of 5000. The balance is 15000. in the AY 2011-12 return, Schedule CFL, what do i fill up as short term capital loss against the corresp AY. If I fill up 20000 against 2009-10, or 15000 the loss carried forward
1.You have sold the property in 2010-11 and invested in Bonds u/s 54EC within 6 months. Thus you have to report about this gain & exemption in assessment year 2011-12. 2. In the schedule of CFL, you need to give the deatils of carry forward of losses i. e. Rs. 15000/-.
CAclubindia
