dear sir
my client land has compulsory acqisition by road department in urban area. It has LTCG taxable on computation working . my query is taxable capital gain deposit in to capital gain account scheme but it as due date & filing return are expired. now deposit Capital gain account scheme what penelty will come ?
ay 2014-15 sale of land 31/12/13
There is a way out
Invest entire amount (net consideration) by the end of this financial year[31.03.15]. DO NOT DEPOSIT IN CAP GAIN ACCOUNT SCHEME
If not then exemption can not be availed
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