where can one open CG specified a/c for keeping 54 exemption?
how much interest will he get...
C.A Trapti varshney
(CA (ranker) B.com C.S)
(125 Points)
Replied 13 July 2010
hi ravi,
As far as i know cap gain specified a/c is opened with banks. if u want to open an account u should contact your banker . they will provide you with other details
harish .k
(STUDING)
(306 Points)
Replied 13 July 2010
Hi, Ravi
To get exemption from CG , u have u deposit the CG's amount in a schedule bank under capital gains scheme A/c with in 6 mnts from the transfer of the property , and the interest income is taxable under the head income from other sources , interest rate also ranges from 6 -8 % , if u not utilised the amount deposited in specific scheme with in the duration time i, e 3 yr it will be taxable as LTCG taxable @ 20% ,
Regards
Harish
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 13 July 2010
dear ravi sir
capital gain scheme is maintained by all schedule banks like pnb,sbi ,bank of india etc.
regards
tarun rustagi
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 13 July 2010
Dear Ravi,
U can maintain such deposit with Nationalised bank.
| Originally posted by : harish .k | ||
 |
Hi, Ravi To get exemption from CG , u have u deposit the CG's amount in a schedule bank under capital gains scheme A/c with in 6 mnts from the transfer of the property , and the interest income is taxable under the head income from other sources , interest rate also ranges from 6 -8 % , if u not utilised the amount deposited in specific scheme with in the duration time i, e 3 yr it will be taxable as LTCG taxable @ 20% , Regards Harish |
 |
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
