long term capital gain earned in AY 17-18, exempted by investing in Capital Gains Account Scheme. Later, if not utilized within prescribed period, which indexation base to be used for calculating capital gain? And will there be any interest on this tax??
Is there any condition as to number of owning residential house properties to avail the exemption on date of purchase of new house property?
"Long term capital gain earned in AY 17-18, exempted by investing in Capital Gains Account Scheme. Later, if not utilized within prescribed period, (within 2/3 years from transfer of original aset) which indexation base to be used for calculating capital gain?"
Ans. Same as that of the year in which original asset got transferred.
"And will there be any interest on this tax??"
Ans, No. But the interest earned from the CGAS account is taxaable.
"Is there any condition as to number of owning residential house properties to avail the exemption on date of purchase of new house property?"
Ans: Yes. Depends upon the section under which the exemption claimed, while sell of the original asset.
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