Section 54 and 54f
This query is : Resolved
Sharada Harihar
(Querist)
24 July 2013
my client has sold residential house property and other long term capital asset in the FY 2012-13
He has given a token amt for bkg of a flat in May'13. Over the next 2-3 weeks he will take a housing loan and buy the residential house property.
His dt of filing return is 31st July 2013
Should he invest in capital gains account with a nationalised bank in the interim period i.e.2-3 weeks
He has given a token amt for bkg of a flat in May'13. Over the next 2-3 weeks he will take a housing loan and buy the residential house property.
His dt of filing return is 31st July 2013
Should he invest in capital gains account with a nationalised bank in the interim period i.e.2-3 weeks
CA PARAS BAFNA
(Expert)
24 July 2013
Yes -he is required to deposit the amount in Capital Gains account or if the builder is reliable give him the amount against current date receipt.
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