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Income tax on capital gain

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(Querist)
18 July 2012 Hi, Myself Ankur Garg, My query is that, if Mr. A has a capital fain income in the FY 10-11 from selling a residential property but unknowingly he could not put that money in capital gain deposit scheme, so what is the penalty or interest on that...
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
18 July 2012 No penalty, However Long-Term Capital Gain Tax U/s 112 Needs to be paid.
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Dharmendra Yadav

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Dharmendra Yadav (Expert)
20 July 2012 Dear Ankur There is no tax Liability is arising in ur case and if u have not deposited ur money in capital gain deposit scheme so u will be liable to pay tax on ur income from capital gain


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