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.

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.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details