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Ltcg and itr2 efiling filing

ITR Filing 831 views 3 replies

I sold my ancestral land on 21st March 2013 for Rs. 10 Lakh. This land was awarded to my grandfather who was freedom fighter by Government of India, so I was not sure about rate of purchase and indexation. I am planning to buy  NHAI (54EC Bonds) of complete Rs. 10 Lakh in month of August 2013 to save LTCG tax. As 54EC Bonds can be bought withing 6 months of property transfer, but it spilled over to another financial year. Did I make any mistake by not buying bonds in March itself. If yes, what can I do now and if not, how should I show it in ITR 2? If I'll show that I accrued Capital Gains but did't file tax or invested under 54, might that a problem?

 

Thanks.

Replies (3)

In the section it is clearly mentioned that Bonds are to be purchased with in 6 months from the date of Sales . So in case it spills over to next year also no problem , but it should be with in 6 months from the date of Sale. Yes you should file ITR 2 . It will be treated as a Deemed Investment and you have done nothing wrong. 

Thank you very much for reply.

But I am not sure where to show 'Deemed Investment' ITR-2. Please advise me about which in which Schedule I should fill 'Deemed Investment'.

 

Thanks 

In ITR 2 :

 

You can come to sheet -  CG - OS

Then Come to B Long Term Capital Gains

 

Under that you can fill in d.Deductions under Sections 54 / 54 B / 54 D / 54 EC / 54 F / 54 G / 54 GA / 54 GB


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