Capital gain account scheme
This query is : Resolved
15 October 2012
I am getting into a JDA for apartments in my land.
Deemed capital gain would be 1cr.
Planning to invest this in full in another house, where construction will be for next 3 yrs and will be paying in installments.
I am expecting to pay around 50lacs by Mar 31st. I will be paying rest 50lacs in installments.
Is it required to deposit 50lacs in capital gain saving a/c by 31Mar?
If it is the case, I will have to take a home loan of 50lacs and keep 50lacs I have in the capital gain a/c! this does not make sense....
Deemed capital gain would be 1cr.
Planning to invest this in full in another house, where construction will be for next 3 yrs and will be paying in installments.
I am expecting to pay around 50lacs by Mar 31st. I will be paying rest 50lacs in installments.
Is it required to deposit 50lacs in capital gain saving a/c by 31Mar?
If it is the case, I will have to take a home loan of 50lacs and keep 50lacs I have in the capital gain a/c! this does not make sense....
Amol S Joglekar
(Expert)
15 October 2012
The balance of investment if any shall be kept deposited in capital gain account scheme BEFORE the due date of filing return.
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