Last month, I sold a 15-year old property and planning to purchase a residential property next financial year.
Is it mandatory to move the fund to a "Capital Gain Account" before 31st March to get the tax exception?
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Enquiry about Capital Gain Account
Replies (2)
Quick Summary
Capital gain has to be invested in a Capital Gain Account scheme before the due date of filing IT Return to avail deduction u/s 54
Jinu J
Yes you have to deposit your capital gain into capital gain account scheme on or before the due date of ITR I.e. 31st july to avail deduction u/s 54
Yes you have to deposit your capital gain into capital gain account scheme on or before the due date of ITR I.e. 31st july to avail deduction u/s 54
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