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Capital gains
Assessee sold his flat on 17.03.2011 and made payment for puchasing new flat on same day. However, the agreement for purchase of new flat was entered on 24.03.2013, i. e. 7 days after the statutory limit for avoiding tax on capital gain. Is there any way out of it?
Replies (3)
What about his ITR? What details has he put in the ITR for the FY 2010-11?
The payment for new flat was made immediately on 25.03.2011. Assesse's bank statement reflect the same. However, agreement was entered into on 24.03.2013
While filing return, since the capital gains money was invested, return was filed showing no capital gains.
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