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Amount not deposited in cgas before due date-exemption ??
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Sale consideration: 28,00,000/-
Less index cost of acquisition: 852/551 x 12,00,000 = 18,55,535/-
Long term capital gain: 944,465/-
LTCG Tax: 192,293/-
You will need to deposit 944,000/- in capital gain account before filing IT return and invest in bonds within 6 months and/or invest in another property within 2 years.
Thanks for your reply. But plz clarify whether amount should be deposited on/bfore due date i. 5th august 2013 or before the filing of return ? i mean return can be filed after the due date also,
You can file belated returns but you cannot file a return wherein you have not deposited the amount in capital gain account.
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