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Taxability of money withdrawn from CGAS scheme if remains unutilised
If on sales of property of AY 2015-16, amount is deposited in the CGAS but remains unutilised and withdrawn after 9 years in AY 2024-25, what will be taxability on such amount. in which year the amount is taxable and under which head of income?
Replies (1)
Liabilty to pay Capital Gains tax had arise in AY 2018-19, but as you had not paid in the year, you can offer to pay in the year of withdrawal.
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