Deposited amount in capital gain account scheme in FY 2023-24, but amount withdrwal during 2024-25 without utilizing deposited amount. How to treat this capital gain amount in current financial year.
Menu
How to treat unutilised capital gain account scheme amount
Replies (2)
Quick Summary
@ Poorna Chandra KJ
If 2 years are already completed since opening of the Capital Gains Account, then the CG account has to be closed and unutilized amount to be credited back into your savings account. And capital gains tax to be paid on the unutilized amount.
Contact your bank for the process to be followed for closing the CG account.
The Unutilized amount would be treated as Capital Gains in Current FY, and would have to be reported in ITR next AY
Recent Topics :
- NPO registered under sec 8 itr filing
- Form 144 (Earlier 27Q) – Reason Code (A/C/G/
- Nps taxation
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
Related Topics :
CAclubindia
