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

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This query is : Resolved

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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.

DEEPAK KUMAR

DEEPAK KUMAR (Querist)
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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