Capital gain account
This query is : Resolved
06 October 2017
Sir, I have opened an capital gain account in 2014, as December 2017 is the closing date of my account. I have partially invested the amount in property and bonds, still I have balance in that account. So should I close the account or I can continue with it, is there any notice from bank will come to close that account or from IT department and also can I pay the tax which is liable on that amount from the same capital gain account. Plz do reply of my query.
thanxs.
Dr. Piyush Telang
thanxs.
Dr. Piyush Telang
06 October 2017
you have to inform the income tax department for the closure of the capital gain account.
https://www.incometaxindia.gov.in/forms/capital%20gains%20accounts%20scheme,%201988/103120000000007959.pdf
https://www.incometaxindia.gov.in/forms/capital%20gains%20accounts%20scheme,%201988/103120000000007959.pdf
06 October 2017
ok sir, but can I pay the liable tax from my capital gain account ?
06 October 2017
As such, you should pay it once account is closed.
But considering the level of knowledge of the person in the chair, you may be able to pay the tax from this account as well. Try your luck.
But considering the level of knowledge of the person in the chair, you may be able to pay the tax from this account as well. Try your luck.
06 October 2017
thank you sir. I will try.
06 October 2017
you are most welcome.....
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