section 54ec
This query is : Resolved
CA VIKASH AGARWAL
(Querist)
16 December 2010
i have deposited my whole consideration which is received me at the time of transfer of lomg term cap[ital asset in Capital Gain Account in specefied bank.
but some balance renmaining in my account if i withdraw that amount form account that is chargeble to tax or not
but some balance renmaining in my account if i withdraw that amount form account that is chargeble to tax or not
CA Ayush Agarwal
(Expert)
16 December 2010
The Exemption Will be Withdrawn Upto UR LTCG.
The Amt Deposited in CGDS - If Withdrawn Then Taxable in Same Year.
Say UR LTCG is 20Lacs. and u Deposited Say 50 Lacs That The Whole Consideration U Received in CGDS.
Then U Can Withdraw 30 Lacs as No Required For Claiming Exemption
Regards,
Ayush Agrawal
The Amt Deposited in CGDS - If Withdrawn Then Taxable in Same Year.
Say UR LTCG is 20Lacs. and u Deposited Say 50 Lacs That The Whole Consideration U Received in CGDS.
Then U Can Withdraw 30 Lacs as No Required For Claiming Exemption
Regards,
Ayush Agrawal
CA VIKASH AGARWAL
(Querist)
16 December 2010
thanks
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