I have around 1 cr deemed capital gain arising from joint development agreement in AY13-14.
Haven't offered any tax assuming I can pay tax upon getting possession in another 2-3 months.
But got a notice asking to pay tax at least in AY14-15 as building plan approval was obtained then.
Last year I bought an apt for 75lacs partly with loan and rest with personal funds. Can I revise my AY14-15 return and claim 75 lacs exemption under 54f assuming other conditions are met?
Particularly concerned because usually you are supposed to open a CGAS account. But what do I do in case of deemed capital gains like in JDA?
CAclubindia
