I have sold one property in 2019 nov. Bought new property in march but due to lockdown cannot register the property.
So should i put the remaining amount in capital gain account as cannot register the property or is there anyway i can delay registery due to lockdown and let money in my personal bank account.
As i dont want to put money in capital gain account and register property once lockdown os over and court is open.
14 April 2020
According to the Ordinance passed on 31.03.2020 -
"The date for making investment/construction/purchase for claiming roll over benefit/deduction in respect of capital gains under sections 54 to 54GB of the IT Act has also been extended to 30th June 2020. Therefore, the investment/ construction/ purchase made up to 30.06.2020 shall be eligible for claiming deduction from capital gains arising during FY 2019-20."
05 November 2021
Even otherwise, as per section 54, time limit to purchase new property is 2 years, while deposit of CG amount in CGAS, 1988 is before filing of the return. So, no need to worry, if the amount is paid till filing of return.
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