Suppose, I sell a House property in the month of November and i propose to invest the proceeds in 54EC bonds. As we all know, the amount should be invested within 6months from the date of transfer.
My query is, Can i use the fund by depositing in any FD and gain interest (or any other purpose) before investing in Capital Gain Bonds? Finally investment made in CG bonds within 6months.
that is, can i use the funds before investing in Capital Gain Bonds within 6months? I will be investing in the 6th month..
Can i do like this? Is it allowed to utilise the funds before investing in CG bonds?
Regards
Balaji.C
CAclubindia
