Tax rate on unutilised amount in capital gain account
This query is : Resolved
Amrish A. Diwakar
(Querist)
05 December 2014
I have made LTCG on sale of house property in AY2014-15, but I had claimed exemption u/s 54 by depositing the amount under Capital Gain Account Scheme, 1988 for purchasing house property in coming year . However, now I do not want to purchase any property and I am ready to pay tax. Kindly guide me at what rate tax is payable and whether any interest is payable?
05 December 2014
u need to pay ltcg tax on this amount.
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