Deposit under capital gain deposit scheme
This query is : Resolved
27 August 2014
ONE OF MY CLIENT HAVING CAPITAL GAIN 1.10 CRORE HAS DEPOSITED 1.15 CRORE IN CAPITAL GAIN DEPOSIT BY MISTAKE, NOW THE ASSESSING OFFICER IT TREATING 1.15 CRORE AS CAPITAL GAIN PLEASE ADVICE ON THE ISSUE
27 August 2014
As per IT Act, Capital gain needs to be assessed from Cost and Sale value only but not from amount deposited in CG account.
Pls putforth your question that if the client deposits only 10 lacs, whether he will consider only Rs. 10 lacs as capital gain? or ask him the provision where it says that CG to be deposited with CG account should be exactly the CG amount.
Pls putforth your question that if the client deposits only 10 lacs, whether he will consider only Rs. 10 lacs as capital gain? or ask him the provision where it says that CG to be deposited with CG account should be exactly the CG amount.
27 August 2014
you can prove with capital gain calculation that amount wrongly deposit by the assesse.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
