Is sec 269ST Invoke if Deposited Cash of 3 lakh in Capital gain account scheme.


This query is : Resolved 

Quick Summary
This discussion addresses whether Section 269ST of the Income Tax Act is applicable when depositing cash into a Capital Gains Account Scheme (CAGS). The consensus or advice provided is that banks are exempt from Section 269ST, implying that such deposits might not attract the penalties under this section. Further clarification might be needed depending on the specific circumstances of the deposit.

(Querist)
29 July 2023 Hi Expert
Would you please advise whether 269ST will be applicable to Capital Gain account Scheme (CAGS). If cash deposited of 3 Lakh in CAGS account.

Regards
Deepak

29 July 2023 Banks are exempted from the section 269ST IT act.

11 September 2024 Good Luck.


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