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How to report in ITR unspent balances in my Capital Gains Account

ITR Filing 637 views 9 replies

I had sold some residential property in mid FY2022-23. I could not use the long term capital gains for purchase of any residential property before filing the returns for AY 2023-24 and deposited the capital gains in a Capital Gains Type A account.

I am still unable to use these funds for a suitable residential property.

Please advise how do you report this fully unspent capital gains in the return filing oin AY2024-25.

Replies (9)
Transfer it to capital gain account scheme ,
another one invest in sec 54EC, INVEST IN HOUSE PROPERTY, INVEST IN SEC 54EC BONDS..

Dear Mr Sabyasachi

Thanks for writing.

But you , maybe, did not understand my query.

I want to know how to report in forthcoming return filing the unspent money in my Capital Gains account. If you can throw some light , I will appreciate it.

Pls post nature of assesse??
Nothing to be shown. you still have time to use it. are you planning to buy a property still or not?

Thanks to both of you for responding.

Mr Sabyasachi

I am an individual tax payer. Only salary and some bank deposits and some dividends as income.

Mr Sharath Chandra

Indeed, I wish to use the capital gains to buy another property to avoid or minimise tax on this LTCG

No need to worry. nothing to be shown except interest received from cgas account.

Mr Sharath, Many thanks for the clarification

@ Sharath chandra   Will he be able to claim deduction then, without showing in itr??

This is not his first year , so need not show usage as he has time limit of 2/3 years to use it. 


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