Please Help: DIRECT TAX
Posted Date : 27-Jul-2011 , 11:18:59 pm | Posted By CASANSAAR
WHETHER FILING RETURN ON DUE DATE IS MANDATORY FOR CLAIMING E/N U/S 54F FOR EG ASESSEE EARN LTCG IN JULY 2010 AND HE DID NOT FILE HIS RETURN ON 31 JULY 2011 BUT IN AUG2011 HE PURCHASE ONE HOUSE AND AFTER THAT HE FILES RETURN BELATEDLY SO WHETHER HE WILL BE ABLE TO CLAIM E/N AS E/N SAYS THAT REINVESTMENT SHD BE MADE WITH IN 2 YRS OF T/F.
Category : Income Tax | Answers : 3 | Comments : 1 | Hits : 545
Answers
Answer By: CA. Sachin Data
As such no such provision exists under the IT Act. So you can very well claim the benefit u/s 54F
Answer By: CA Rajnish
Juhi ji,return should filed witin due date. assessee should acquire new property within due date of filing return or has to deposit the amount to special pupose in any bank.Belated return cannot revise,then how he claim further?
Answer By: CA ANKUR KAPIL
As per section either purchase new house before furnishing the return or depost in sapital gain account scheme before due date.
Comments
CA VIPIN GARG
28-Jul-2011 , 09:00:09 amYes he is fully eligible to take the exemption u/s 54F because there is no such provision exist that you have to file return within due date to claim the exemption under the above section. Hope you will get your answer and have a nice day Juhi.......