Capital gains: Investment cut-off date extended, but there's a catch

Taxpayers may not be able to avail of it unless last date for filing revised ITR is extended

Bindisha Sarang
Last Updated at January 17, 2023 22:09 IST

Sections 54 to 54GB require taxpayers to make certain investments, say, in a residential property or in specified bonds within certain specified timelines, to claim exemption from capital gains tax.

Individuals who have earned long-term capital gains from the sale of a house or any other asset can avoid paying tax on these gains by investing in another house or in specified bonds. They can do so under the provisions of Section 54 to Section 54GB of the Income-Tax (I-T) Act. Through a circular issued on January 6, 2023, the Central Board of Direct Taxes (CBDT) has extended the deadline for making these investments.

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