Ltcg into 54ec bonds within 6 months



Dear members,

I sold my flat on 28th november 2018. Was undecided at the time if I would go buy another property or not so did not deposit funds into CGAS at a nationalised bank. Today(22 march 2019) as of posting this query, It has been 4 months since then and the funds are deposited in FD at icici from the date I received it from the buyer. The period for investing into 54EC bonds is 6 months within date of sale of asset and it looks like I am eligible to claim the benefits thereof. However, I was told by my friend that if the funds are not deposited with a CGAS account as soon as the sale was made, I cannot avail of deduction u/s 54ec pertaining to LTCG even if the bonds are bought within 6 months. Can anyone here pls confirm if that is true or not

 
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your last date to deposit the money in bonds is 27may2019
there's no such provision tcat denies exemption under 54EC if the money is not deposited in CGAS
only if the period of 6months falls after the due date is filing return them and you were unable to deposit them in the bonds in that case you need to deposit the money in CGAS before filing the return and after that you can withdraw money from CGAS and deposit I. 54EC bonds

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Thanks Giridarji for resolving my query

 
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you are welcome

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Giridharji would you happen to know anything about the situation described below:

Date of sale of flat: 28th nov 2018

End of 6 month period before which LTCG has to be used to buy 54EC bonds: 27th may 2019

deemed date of allotment as per NHAI website shall be: Last day of the month during which the application amount has been cleared and credited to NHAI’s collection account(i think this date is 31st may)

So if  I make an application tomorrow(7th may 2019), will my allotment date be 31st may 2019? If yes, will I still be able to claim LTCG benefit, given that my 6 month period will be up by 27th may 2019?

 
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