Time limit for opening of Capital gain Account
This query is : Resolved
RAMESH CHANDRA GOTHWAL
(Querist)
20 November 2021
I have sold a 18 year old residential plot on 28.10.2021. I jointly own also one no. residential house since 30.10.2012. As I want to take benefit of Sec 54F, kindly answer my following queries :-
(1) Can I take benefit of Sec 54F (purchase or construction of second new residential house) having owned already one no. residential house ?
(2) If yes, then up to which date can I open a Capital Gain Account & then deposit the entire sale proceed into it ??
(1) Can I take benefit of Sec 54F (purchase or construction of second new residential house) having owned already one no. residential house ?
(2) If yes, then up to which date can I open a Capital Gain Account & then deposit the entire sale proceed into it ??
Dhirajlal Rambhia
(Expert)
21 November 2021
1. Yes.
2. Before filing relevant ITR.
2. Before filing relevant ITR.
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