Capital gain
This query is : Resolved
Mithesh Kumar
(Querist)
09 June 2012
I sold a property in 2009 and get exemption in u/s 54F as I invested amount under Capital Gain Account Scheme bond. But now me withdrawn as 3years completed and the withdrawn amount not utilised for the purpose so under which section such unutilised amoun will taxed and how to show this withdrawn amount taxable
CA PARAS BAFNA
(Expert)
09 June 2012
The amount of Capital gains exempted earlier by virtue of depositing the Sales Consideration in Capital Gains A/c will be charged to tax U/s 45.
.
So You have to pay tax @ 20% on Capital Gains, for which exemption was claimed.
.
.
So You have to pay tax @ 20% on Capital Gains, for which exemption was claimed.
.
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