Investment of consideration on capital asset transfer
This query is : Open
santosh kumar
(Querist)
01 August 2016
Dear CCI experts,
Greeting to you.
Can anybody help me regarding this issue.
Consideration on transfer of capital asset has been deposited in an Account under a scheme since three years.
Now I want to withdrew the amount from the account. Is the amount taxable under income tax or exempt under tax.
Pl clarify me regarding this query
Thanking in advance.
Greeting to you.
Can anybody help me regarding this issue.
Consideration on transfer of capital asset has been deposited in an Account under a scheme since three years.
Now I want to withdrew the amount from the account. Is the amount taxable under income tax or exempt under tax.
Pl clarify me regarding this query
Thanking in advance.
CA. Sunil Gokhale
(Expert)
02 August 2016
It is taxable as capital gain in the year of completion of 3 years.
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