LTCG exemption -6 month deadline

Hi,

I sold my house in Aug 21 which attracts LTCG, unfortunately I have missed the 6 month deadline to invest in bonds issued by the IRFC, NHAI, PFC, and REC. Questions below ..

1.Can investment in sovereign gold bonds (SGB) used for LTCG exemption under section 54EC ?

2.Is there a way I can invest in the bonds (IRFC, NHAI, PFC, and REC) now in July 22 and claim exemption ?
 

any other solutions most welcome.

Replies (3)
Quick Summary
This discussion addresses the consequences of missing the 6-month deadline to invest in specific bonds (IRFC, NHAI, PFC, REC) for Long Term Capital Gains (LTCG) tax exemption. Unfortunately, investing in Sovereign Gold Bonds (SGB) is not eligible for this exemption under Section 54EC, and the deadline for the specified bonds has passed. The primary alternative suggested is to invest in another property within three years, ensuring the LTCG amount is deposited into a Capital Gains Account Scheme (CGAS) before filing your tax return to claim the deduction.

1. Not eligible.

2. Cannot claim exemption u/s. 54EC, as its time barred now.

3. You have chance for sec 54, deduction.

So basically only option is to invest in another property then ? Thanks

Yes, to be purchased within next 3 years, but deposit the LTCG amount in CGAS,1988 account before filing return, to avail the deduction.

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