Underutilized amount in Capital Gains Account Scheme
This query is : Resolved
sampad mohanty
(Querist)
13 October 2019
Sir/Madam
I have sold a property on 10/10/2016 and deposited Rs. 40 lac in Capital Gains Account Scheme. However I could not constructed a building during these three years. Now my question is how much interest should I pay for this as I want to deposit this capital gain tax now.
I have sold a property on 10/10/2016 and deposited Rs. 40 lac in Capital Gains Account Scheme. However I could not constructed a building during these three years. Now my question is how much interest should I pay for this as I want to deposit this capital gain tax now.
CA. Ankit Jain
(Expert)
14 October 2019
As and when your 3 years completed, the same would be taxable as the same nature of capital gain as it was originally in the year in which 3 years expired. There is no question of Interest.
If u still have query, you can contact me.
If u still have query, you can contact me.
Message likes :
2 times
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Employee secondment
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Import of Capital Machine
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Closer of business and itc of capital goods
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- 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
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
