Investment in Capital Gains Bonds must be done within 6 months of date of sale of Long Term Capital Asset. But no Bonds have yet been issued and my 6 months period expires on 30th June 2006. What do I do if these Bonds are not issued before 30th June 2006?
Insted of keeping money in Capital gain bonds or in some other tax savings bonds, Buy some property (A house or a flat). That will give you better return and on the other you can save capital gains. Consult your C.A.
What are capitial gain bonds?
No necessary to invest them in capital bonds, you can keep the money in a NABARD Savings scheme and prove that you are going to invest the money in a capital bond. Should not cause any trouble. Otherwise contact your assessing authority and be advised by him accordingly.
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