Income tax on capital gain
This query is : Open
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...
18 July 2012
No penalty, However Long-Term Capital Gain Tax U/s 112 Needs to be paid.
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
Thanks
Thanks
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