banner_ad

Closure of capital gain account

This query is : Resolved 
Profile Image

Profile Image

(Querist)
01 April 2020 My father sold our residential house in native and deposited the amount in capital gain account. We have used almost all the money for buying house in Bangalore. Now, we want to close the account but the manager is asking for approval of tax accessing officer. Since, my family has shifted to Bangalore, it seems quite difficult to travel to native for AO approval. Is there any other way(probably online) for applying for this approval? Which documents are required for approval?

Please help as even few CAs are also not sure about the procedure. Thank you !
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
01 April 2020 No online facility meaning thereby to apply offline in the form given in link https://www.incometaxindia.gov.in/forms/capital%20gains%20accounts%20scheme,%201988/103120000000007959.pdf

Enclosures:-
Pan card copy.
Proof of money deposited and withdrawn.
Proof of house bought.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details