Capital gain invested please help


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Querist : Anonymous

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Querist : Anonymous (Querist)
20 August 2012 i have earned capital gain of rs 8,00,000 in py 2011-2012 out which i have invested 6 lac in property and balance 200000 deposit in capital gain account.
now i am confused how to deal with 200000 .
what will be tax treatment after 3 year time limit if i will not utilized it .
A) whole amount 800000 will be tax in which year.
b) 200000 will be tax in which year?
C) anything else

20 August 2012 2 lakh will be taxed in assessment year 2-012-13 if you do not invest the said 2 lakh in capital gain account scheme before the due date of filing the return for the assessment year 2012-13

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 August 2012 thanks sir
but i have invested this amount in capital gain account already .this transaction on my wife name and she has nil income. in that case she will be eligible for 190000 slab discount in that 2015-16 year for these 200000.

20 August 2012 No question of 2015-16. If the income for the assessment year is NIL, and you want to offer the capital gain for the tax in this year pay 20% i.e.2000 tax.


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