Tax Exemption under Sec 54 if invested in Fixed Deposit?

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  1. RAS

    RAS New Member

    I sold my inherited commercial land on 31july, 2015. I converted the long-term capital gain proceeds (15 lakhs) into fixed deposit in the bank in August 2015. Can I still open the capital gain deposit account and transfer that deposit in this account to claim the tax exemption under section 54F
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, you can open the Capital Gains Account at any time before filing your Income Tax Return.

    Therefore you can still open the Capital Gains Account
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