Regarding my query on long term capital gain
This query is : Resolved
Ali Shamsi
(Querist)
23 March 2014
when I will file my I.tax return for the f.y 2013 - 2014 what i have to show their regarding the amount i received against land sold . And how i will calculate the long term capital gain. Till than is it fine to keep the amount in my savings bank account. Thanks a lot sir
Nikhil Kaushik
(Expert)
23 March 2014
for computation of capital gains, please refer https://www.charteredclub.com/capital-gain-tax/
if you are not claiming exemption under section 54F etc, you may keep money anywhere you want to.
if you want to claim deduction under 54F and wont be able to invest the amount before the due date for filing return under section 139(1), then you need to put the money in Capital Gains Accounts Scheme
if you are not claiming exemption under section 54F etc, you may keep money anywhere you want to.
if you want to claim deduction under 54F and wont be able to invest the amount before the due date for filing return under section 139(1), then you need to put the money in Capital Gains Accounts Scheme
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