Please let me know how Capital Gain on property sold in Nov'15 which will be fully invested in Capital Gain Bonds of REC or NHAI in April'16 (within 6 months time limit) will be reflected in the Annual Tax Return of 2015-2016 and Annual Tax Return of 2016-2017 more
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The Capital Gain arising on sale of property if invested in Capital Gain Bonds of REC/NHAI has to be shown in Annual Tax Return of Assessment Year 2016-17, Under Section 54 EC of Income Tax Act. more
Nov 07
Shri Subash Parakh ji - What I understand from your comment is that the investment in Capital Gain Bonds in April'16 would be reflected in Tax Return of 2015-16 which will be filed with IT Authorities by 31st July'16. Kindly confirm. more
Nov 03
I suggest you buy the bonds in the current financial year itself. Maximum amount that can be purchased is Rs. 50 lakhs and you will not get any additional benefit if you buy more than Rs 50 lakhs. more
Nov 03