banner_ad

Capital Gain exemption (CGAS vs 54F)

Others 291 views 2 replies
Assessee has a LTCG from sale of land in FY 21-22. He has invested amount in normal FD. He is planning to purchase Residential House in next month. He has not yet filed Return of income for FY 21-22 and also not deposited in CGAS.

Suggest
1. Whether to deposit in CGAS now and claim exemption in ROI and file ROI now under sec 139(4)?
OR
2. First purchase Residence and then claim exemption under Section 54F before the due date under section 139(4)
Replies (2)

1. Not eligible now, as the time to deposit in CGAS account has lapsed.

2. Yes, you can try for this option.

Even if you are not able to execute sale deed of the property, you can remit the amount with the seller. instead of keeping it in an fd you should remit it to the seller


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details