22 February 2023
1. Sold plot on 15-04-2021 2. Capital gain amount deposited in bank on 23-09-2021 3. Utilized full amount less than two years, balance is zero as on date Ques: 1. Is it necessary to close the account with the approval of AO 2. What are document to be submitted with Form G for approval by AO
22 February 2023
1. Yes. 2. As per Rule 13 of Capital Gain Account Scheme 1988, in case of closure of capital gain account, a depositor is required to file an application in Form-G along with the passbook of account-A or deposit receipt of account-B, as the case may be, to the deposit office with the prior approval of the Assessing Officer who has jurisdiction over the depositor.
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