capital gains

charudureja (Querist) 05 January 2010 This query is : Resolved
till when capital gain has to be deposited. daughter got money from ancestral property, so till when she has to deposit the capital gain

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Raj Kumar Makkad (Expert) 05 January 2010
From the day she obtained the ownership rights in documents.

soumitra basu (Expert) 05 January 2010
I do not understand the meaning of "deposit of capital gain". If it a question of investment under section 54F of the act, then the same has to be made within the specified period i.e. 1 year before or 2 years after. If it is a question of investment in specified bond then it should be made within six month from the date of sale.

Kumar Thadhani (Expert) 05 January 2010
Deposit of capital gains of only residential property is exempted from Income Tax such investment shall be under Specified Bonds mentioned under the Act within th period of six month from the date of sale or Sale Agreement

Vineet (Expert) 07 January 2010
Please clarify your query with facts. Do you mean payment of capital gains tax or deposit in Capital Gains Account to avail exemption u/s 54 or 54F.

Detailed facts would enable a better reply.