Capital gain Tax
This query is : Resolved
05 April 2020
Dear sir,
I sold flat-A and Rs.200000 invested in capital gain fixed deposit scheme with Central bank of India in 2013 (As advised by CA). At that time I was paying money to under construction Flat-B which I bought before (This purchase mentioned in Annual Return). But I did not set off capital gain of Flat-A against Flat-B till this date.At present purchase agreement of Flat B is pending for registration. Now my question is,
1. Can I set off this capital gain against Flat-B in current year ?
2. How can I close the capital gain Fix deposit at Central Bank of India?
Request you to guide for this matter.
I sold flat-A and Rs.200000 invested in capital gain fixed deposit scheme with Central bank of India in 2013 (As advised by CA). At that time I was paying money to under construction Flat-B which I bought before (This purchase mentioned in Annual Return). But I did not set off capital gain of Flat-A against Flat-B till this date.At present purchase agreement of Flat B is pending for registration. Now my question is,
1. Can I set off this capital gain against Flat-B in current year ?
2. How can I close the capital gain Fix deposit at Central Bank of India?
Request you to guide for this matter.
05 April 2020
1 Not possible such benefit available only for purchase not for construction.
2 Now you can close it and pay capital gains tax.
2 Now you can close it and pay capital gains tax.
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