section 54ec
This query is : Resolved
CA VIKASH AGARWAL
(Querist)
16 December 2010
i have deposited my whole consideration which is received me at the time of transfer of lomg term cap[ital asset in Capital Gain Account in specefied bank.
but some balance renmaining in my account if i withdraw that amount form account that is chargeble to tax or not
but some balance renmaining in my account if i withdraw that amount form account that is chargeble to tax or not
CA Ayush Agarwal
(Expert)
16 December 2010
The Exemption Will be Withdrawn Upto UR LTCG.
The Amt Deposited in CGDS - If Withdrawn Then Taxable in Same Year.
Say UR LTCG is 20Lacs. and u Deposited Say 50 Lacs That The Whole Consideration U Received in CGDS.
Then U Can Withdraw 30 Lacs as No Required For Claiming Exemption
Regards,
Ayush Agrawal
The Amt Deposited in CGDS - If Withdrawn Then Taxable in Same Year.
Say UR LTCG is 20Lacs. and u Deposited Say 50 Lacs That The Whole Consideration U Received in CGDS.
Then U Can Withdraw 30 Lacs as No Required For Claiming Exemption
Regards,
Ayush Agrawal
CA VIKASH AGARWAL
(Querist)
16 December 2010
thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
