CBDT extends compliance deadline for capital gains tax waiver on residential properties

Income Tax

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Jan 10, 2023

In a move that will provide relief to a number of taxpayers, the income tax department has extended the time limit for a number of compliances related to long-term capital gains tax exemption, till March 31, 2023.

The Central Board of Direct Taxes (CBDT) had, in June 2021, provided a relaxation for certain compliances to be made by taxpayers including investment, deposit, payment, acquisition, purchase and construction for the purpose of claiming any exemption under the provisions contained in Section 54 to 54GB of the Income-tax Act, 1961.

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