Exemption u/s 54 EC

[Haresh Raithatha]

Dear colleague

One of My client sold his flat on 28-09-2015. Capital gain arise in the sale is Rs 30 las. He has made up his my mind to purchase a new House property.With such vision he has opened a capital gain account in SBI without waiting up to due date of filing the Return of Income and deposited the Capital Gain amount in the same.

Now he has drop the idea to purchase the house property and want to Invest in Capital Bond OF REC or NHAI...The time limit for investing in Capital Gain Bond is to reckon from the Which date?

Now what to do and How to close the Capital Gain Account Opened in Bank without loosing the Benefit of

Exemption by investing in Capital Gain Bond afterwards...Is there any citation or relevant Notificatio/Circulars

Pl Guide

Regards

AI Summary

Client Seeks Advice on Switching Capital Gain Investment from Property to REC/NHAI Bonds Without Losing Tax Exemption A client sold a flat on September 28, 2015, resulting in a capital gain of Rs 30 lakhs. Initially planning to buy a new property, the client opened a capital gain account at SBI and deposited the gain. However, the client now wishes to invest in Capital Gain Bonds of REC or NHAI instead. The query seeks guidance on the time limit for such investment and how to close the capital gain account without losing the exemption benefit. The response suggests consulting a professional for detailed advice.