Capital gain account scheme
This query is : Open
07 September 2020
I sold a property in may 2019 and there is a long term capital gain accrued.i put the money in my saving bank account till now.i want to know about my last time limit to open an capital gain scheme account so that I can reinvest from it,and how much amount should be deposited there ? Is it only capital gain or entire sale proceed ? Pls clarify me .Thanks in advance..
08 September 2020
On case of sale of house property capital gains has to be deposited in capital gains scheme before the due date for filing of ITR.
08 September 2020
Thanks for reply sir..I have read in an article that you can file your itr till 31 March 2021 with the option of paying penalty...so it means can I drag my capital gain scheme account till 31 march as well if I am ready to pay penalty....?
08 September 2020
No you have to deposit within due date of filing return without penalty.
08 September 2020
Last thing sir..how much amount I should deposite in capital gain scheme account ? Is it entire sale proceed or calculated LTCG only ??
08 September 2020
minimum of the LTCG to be deposited. no need to deposit the entire sales proceed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- Annual return of gst limit
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
