Capital gains
This query is : Resolved
Aakash K. Sahu
(Querist)
31 March 2016
Sold a land, capital gain arised, opened a capital gain scheme account in bank and deposited tha same in such account. Due to some reasons could not invest such amount in further residential asset..!! Entered into a fixed deposit within the same account. Whether the amount invested in fixed deposit is eligible for exemption.??
Amol S Joglekar
(Expert)
31 March 2016
if you satisfy the condition of 6 months, then you may do so. As per the capital gain account scheme, any withdrawl from the said account needs prior approval of the concerned Income Tax Officer, which may please be taken into account.
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