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Capital Gain Account Scheme Deposit
Is it necessary to deposit capital gain amount in capital gain account scheme before purchasing new asset? I mean if the new asset is purchased before the due date, do we still have to deposit amount in the capital gain account scheme immediately after the sale of old asset and before the purchase of new asset?
Replies (2)
Quick Summary
If new asset is purchased within due date then there is no need to deposit the amount in capital gains deposit account
So after sale of old asset, the consideration can be deposited in a normal savings account and then can be used for purchasing the new asset before the due date and the exemptions under section 54(and the other respective exemptions in respect of capital gains) be still available. Right?
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