Capital Gain A/c- Withdrawal for other purposes
Dhruv (student) (31 Points)
05 February 2018One of my clients withdrew money deposited in Capital Gains accounts for purchase of agriculture land after filing form-C as per the CGA scheme but later on utilised it for other purposes and didn't depoist the same back on time i.e. 60 days. I want to know when will it be taxed:
1.In the AY of withdrawal or
2. In the AY in which 2 years from the transfer of the original asset expire?