Filing IT return

Dear Pankaj,

Recently my wife got a capital gain of Rs 10 lac from the land sold which was gifted to her by her mother around 10 years back.She is a house wife with no income from any other sources and not filing income tax return till date. She is planning to invest this amount in NHAI bond to claim exemption from capital gain tax. Is it necessary to file a Income tax return to claim this exemption from capital gain??

asked Aug 12 '12 at 13:46 by income_ tax 1116


As she had capital gains for amount more than non-taxable range, its mandatory for her to file income tax returns.

In income tax return, she can show exemption u/s 54EC (for NHAI bonds).

answered Aug 12 '12 at 17:39 by Pankaj Batra 5.2k320

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Asked: Aug 12 '12 at 13:46

Seen: 1,690 times

Last updated: Aug 12 '12 at 17:39