Capital gain accounts scheme not used within 3 years
This query is : Resolved
28 December 2021
Dear sir
If an assessee had deposited proceeds of capital gains in Capital Gain Accounts Scheme & the said is not used within a period of 3 years then
a) Where to these unused deposits chargeable to tax (Capital gain or other source)
b) If it should be shown in Capital Gains then what will be cost of asset? i.e original cost of asset trfd or proceeds of CGAS?
b) Rate of tax
If an assessee had deposited proceeds of capital gains in Capital Gain Accounts Scheme & the said is not used within a period of 3 years then
a) Where to these unused deposits chargeable to tax (Capital gain or other source)
b) If it should be shown in Capital Gains then what will be cost of asset? i.e original cost of asset trfd or proceeds of CGAS?
b) Rate of tax
28 December 2021
a Capital gains.
b Original cost of the assets.
c 20% tax payable.
b Original cost of the assets.
c 20% tax payable.
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
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- ITR 6 Schedule CFL and UD Issues
- FREELANCING ACCOUNTANT
- Not a CA , can we prepare balance sheet
- TDS RATE ON RENT PAID TO NRI
- TCS ON SOFTWARE SALES
- Income Type for interest from government bonds
- Gstr 9 2023-24
- GST Form ADT-02
- Reporting of savings account interest income
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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?
Trending Online Classes
CAclubindia
