Tax on amount withdrawal from capital gain account
This query is : Resolved
Mukesh Nath Mj
(Querist)
06 January 2018
If i withdraw the amount from Capital Gain Deposit Account Scheme and utilize for any other purpose. how to show this amount as an income in Computation of total income.did i have to show under the capital gain head just like previous year or have to mention any other detail?
KAVIRAJA ADDANGADI
(Expert)
06 January 2018
If amount deposited under capital gains A/c not utilised for specified purpose before expiry of specific period or Time, Amount not utilised chargeable to tax as capital gains in the financial year in which time period expires.
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