banner_ad

LTCG on sale of Property, new property

Tax queries 196 views 2 replies

Dear all, 

I am a tax payer and proud citizen, I have a query and request guidance and help. 

I brought a property in 2008 and sold in Mar'19, profits from this was parked in a LTCG account in Aug 2019.

I brought a new property in 2020, but I didn't realize that I can pay from that LTCG account, I have paid from my saving account. So far I have paid₹14lacs, the recent installment was paid from LTCG account, this account getting expired in Aug '22. 

 

Need guidance on 

1. Can I claim benefit of INR 14Lacs paid from saving account from LTCG account. 

2. Remaining account will default become taxable or I can use for the new property. 

 

Thank you

Jalaj Karandikar

Mob: 9225508230

Replies (2)

Dear Proud citizen, kindly specify which type CAGS account was opened i.e. Type A - Savings bank or Type B - Term deposit,

Also please specify, in which year did you paid these installments of Rs. 14 lacs.

One thing is sure that if remaining amount not utilized before expiry, it is going to be taxable,

 

Use that amount by way of transfer in Saving Account


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details