Closure of capital gain account

This query is : Resolved

Vishal Gupta (Querist)
Follow

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 !

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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Proof of money deposited and withdrawn.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.