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Samkit Maniar  |44 Answers  |Ask -

Tax Expert - Answered on Feb 03, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Atul Question by Atul on Dec 28, 2023Hindi
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I sold a residential property in Aug 2021 and made a capital gains of 40 lakhs which i have deposited in a Capital gain account, my query is - What is the deadline for me to invest in a new property so as to claim tax exemption on CG and Can I invest in an under construction property which will take another year or more to complete ?

Ans: Unfortunately, the timelines to invest the amount has elapsed. 1 year prior to sale or two year after sale you should have bought the property. If you are looking to construct the property yourself you get 3 years after sale as a timeline to invest

Please seek guidance from your CA on this as you may need to reverse the deduction claimed in 2021 in your current year tax returns that you will file.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Sir i am a civil engineer graduate 2023 i did my graduation in civil engineering from a tire 2 -3 college from mumbai university . I didn’t get any job its not like that i am dum student or else i was not good at studies u definitely found partility that in civil they took all diploma + degree holders with less knowledge also in companies such a worley , godrej , technimont etc mnc companies with salary of 6-7 lpa but sir i was scattered because i lost my dad in covid my mom is working but her salary is just 50k and now after trying out for jobs as fresher i found a job in IIT bombay as project technical assistant which gives me 30k but its in ocean department. Now i want to learn further i am seeing people doing masters from priavte university like nicmar adani symbiosis etc in construction or infrastructure management. I am stuck jn life what to do im trying for government but i know government junior engineers job wont pay me much to buy home for my mom . In such case what will be best please help
Ans: I fully empathize with your situation. Do focus on the positive of having completed BTech in Civil Engineering. Civil Engineering is the foundational engineering discipline and lends itself to use of new tools and technologies through use of of software to build structures using design elements that use newer materials to build infrastructure, homes, industrial townships that further sustainability. Use your current Tech Asstt job to learn about Oceanography as an added skills. Look at acquiring project management skills and explore opportunities with optimism and passion.

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