LTCG Exemption if Bonds purchased before Sale of Property

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  1. NIRAV SHETH

    NIRAV SHETH New Member

    DEAR SIR,

    I HAVE SOLD MY COMMERCIAL PROPERTY ON 20 / 02 / 2016

    I GOT PROFIT OF RS 23 LACS BY SELLING THIS PROPERTY

    I HAVE PURCHASED THIS PROPERTY BEFORE 5 YEARS

    FOR SAVING TAX I HAVE PURCHASED LONG TERM CAPITAL GAIN BOND

    BUT I HAVE PURCHASED BOND BEFORE 3 MONTHS ( 20 / 11 / 2015 ) OF DATE OF SELL AS I RECEIVED PART PAYMENT EARLY AND I DEED AGREEMENT ( 20 / 2 /16) AFTER RECEIVING FULL PAYMENT

    I HAVE NOT DONE ANY BANAKHAT

    IS MY PURCHASE OF BOND IS VALID FOR TAX SAVING ???
     
  2. NIRAV SHETH

    NIRAV SHETH New Member

  3. Yatin Gandhi

    Yatin Gandhi Active Member

    Exemption is allowed only for bonds purchased after the sale and not for purchase of bonds before sale
     
  4. NIRAV SHETH

    NIRAV SHETH New Member

    I have purchased bond after taking TOKEN
    Even though is it not valid ??
     
  5. NIRAV SHETH

    NIRAV SHETH New Member

    I have purchased after getting TOKEN amount and from the TOKEN amount which is deposited in normal saving a/c
     
  6. Yatin Gandhi

    Yatin Gandhi Active Member

    Receiving token money in this case wont be considered as date of sale of property and therefore exemption wont be allowed
     
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