is it necessary to deposit the cap gain arised in cap gain deposit account before due date of return.....wat will happen if i dont deposit but utilise it after the date of return for the reauired purposes......
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Capital gain deposit scheme
Replies (3)
It's doent matter with Return date. It's consider time limit after which purchase new property from the date of the sale of house property.
If you do not deposit the unutilized CG on or before the due date of filing the return then you cannot take the exemption u/s 54 or 54F. You will have to CG tax @ 20%.
Yes it is necessary to deposit the unutilized capital gain with a scheduled bank under capital gain deposit scheme, on or before the due date of filing of return. If not deposited, then the unutilized portion will be taxed.
- Ruben Balooni
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