Capital gain

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uppili (Querist)
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04 April 2019 A property was sold on 03 April 2019 for Rs. 60,00,000 and purchase cost indexed was Rs. 40,00,000. What would be the amount to be deposited in CG deposit account and when will it needs to be deposited as per IT?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 April 2019 If the property sold out is a 'residential house property'-

* amount to be deposited is Rs. 20 lakhs and

* to be deposited on or before the due date of filing the IT return.

uppili

uppili (Querist)
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05 April 2019 Thanks for the clarification.. But still have one doubt.. Since the transaction happened for the FY 2019-20... do we still need to deposit before filing IT return for AY 2019-20 or we can do it for AY 2020-21?