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Taxability on amount withdrawn from capital gain account scheme

Harshad (Chartered Accountant) (27 Points)

20 October 2021  

I sold a residential property on 13th December 2019 and deposited the capital gain in CGAS. Whether the entire capital gain will be taxable if i make booking of an appartment by depositing very nominal amount. Or i need to utilise entire capital gain proceeds before 12th December 2021 to get exemption from capital gains tax?


 1 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (108753 Points)
Replied 20 October 2021

Need to utilise entire capital gain proceeds before 12th December 2021 to get exemption from capital gains tax.

 


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