Deduction u/s 54

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2012 An assessee who has deposited in CGDS (Capital Gain Deposit Scheme) account for deduction u/s 54,

but before utilizing the amount from CGDS, assessee died.. but time period was same remain for utilizing the amount.

what can be consequences and can the wife or son can investment in new house property from utilizing the amount from CGDS for the purpose of utilizing the amount from CGDS Account.

urgent

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

20 May 2012 they can close the account and get back the money it is not taxable in their hands then they can make investment wherever they deem fit.
CA MANOJ GUPTA'
JODHPUR
09828510543

Message likes : 1 times