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Capital gain account scheme

Others 334 views 4 replies

As the due date for filing return is extended till 31 august 2019.

so what is the due date for the purpose of depositing LTCG amount in capital gain account scheme?

in simple words my query is now we can deposit our LTCG amount till 31 august 2019 or still the due date for this purpose is 31 july 2019?

Replies (4)
31-08-2019
till 31/08/2019

1. There were a lot of contrary views with respect to the due date specified for the purpose of depositing sale proceeds into the Capital Gains Accounts Scheme. 
2. But as per the various decisions it is to be done before the due date specified u/s 139(1). The due date for filing return of income for AY 2019-20 got extended to 31.08.2019, hence it will be a date before which the sale proceeds need to be deposited into CGAS. 
Please correct me if the above solution has an alternative view. 

it shall not be 31st Aug it shall be 31st jul since such extension of due date is taken through a notification and in law it is written that amt should be deposited within time mention u/s 139(1) and the time limit under the said sec has not been changed hence for cao gain account scheme it shall be remain same...


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