is it necessary to deposit the cap gain arised in cap gain deposit account before due date of return.....wat will happen if i dont deposit but utilise it after the date of return for the reauired purposes......
3 Replies
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 17 November 2012
It's doent matter with Return date. It's consider time limit after which purchase new property from the date of the sale of house property.
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 21 November 2012
If you do not deposit the unutilized CG on or before the due date of filing the return then you cannot take the exemption u/s 54 or 54F. You will have to CG tax @ 20%.
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 21 November 2012
Yes it is necessary to deposit the unutilized capital gain with a scheduled bank under capital gain deposit scheme, on or before the due date of filing of return. If not deposited, then the unutilized portion will be taxed.
- Ruben Balooni
Recent Topics
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
