I had opened a capital gain account in march 2019 for construction of house property.
in march 2022, 3 years is being completed.
however due to COVID 19 and delay on part of government department in getting Nomination of property.
this process takes time till April 2022
only there after i can withdraw the balance amount from my Capital gain account according to bank officials.
Can i get some relief from A.O for closing such account afer 3 years.
so that i can save tax on capital gain.
kindly advise me on this.
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Capital gain account scheme query
Replies (5)
You have already obtained benefit for ltcg by investing in capital gain account scheme, what else do you want?
Dear expert
if i am not able to apply such amount in 3 years ,i have to pay tax on capital gain on unutilized amount.
if i am not able to apply such amount in 3 years ,i have to pay tax on capital gain on unutilized amount.
U can give letter to AO stating reasons on account of.....
for extending reasonable time
for extending reasonable time
Thanks....can any one provide me the format of request
and whether i have to produce some documents also to the A.O.?
and whether i have to produce some documents also to the A.O.?
There is no extension of time permitted.
either you pay tax or you invest more in capital gain account scheme.
either you pay tax or you invest more in capital gain account scheme.
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