1. Suppose I sell my immovable property towards March end of the financial year and I have to move to another city, it will take time for me to transfer the bank accounts to the new city. In this case, for 54EC bonds, can I apply within 6 months of the date of sale but before filing the returns and claim exemption for the same. For claiming exemption is it the date of application for 54EC Bonds or the date of allotment that is considered?
2. Can I put the unutilized taxable amount of Capital Gains in Capital Gains Accounts Scheme and then from this put the amount in 54EC bonds if the date of filing of ITR is over and then file a belated/revised return?
3. Do I have to take the signature of the AO before closing the CGAS account and how to find my AO (is it of the city where the old asset was sold or of the new place where I migrate to)?
CAclubindia
