Capital gain account
This query is : Resolved
06 October 2017
Sir, I have opened an capital gain account in 2014, as December 2017 is the closing date of my account. I have partially invested the amount in property and bonds, still I have balance in that account. So should I close the account or I can continue with it, is there any notice from bank will come to close that account or from IT department and also can I pay the tax which is liable on that amount from the same capital gain account. Plz do reply of my query.
thanxs.
Dr. Piyush Telang
thanxs.
Dr. Piyush Telang
06 October 2017
you have to inform the income tax department for the closure of the capital gain account.
http://www.incometaxindia.gov.in/forms/capital%20gains%20accounts%20scheme,%201988/103120000000007959.pdf
http://www.incometaxindia.gov.in/forms/capital%20gains%20accounts%20scheme,%201988/103120000000007959.pdf
06 October 2017
ok sir, but can I pay the liable tax from my capital gain account ?
06 October 2017
As such, you should pay it once account is closed.
But considering the level of knowledge of the person in the chair, you may be able to pay the tax from this account as well. Try your luck.
But considering the level of knowledge of the person in the chair, you may be able to pay the tax from this account as well. Try your luck.
06 October 2017
thank you sir. I will try.
06 October 2017
you are most welcome.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
