hai to all
if a person not utilised the amount in capital gain scheme for that particular purpose then he has to pay tax on it.But whether he has to pay interest on tax for the 3 years for unutilisation(from opening to closing date of this account).
siva andhavarapu (ca final) (388 Points)
31 May 2018hai to all
if a person not utilised the amount in capital gain scheme for that particular purpose then he has to pay tax on it.But whether he has to pay interest on tax for the 3 years for unutilisation(from opening to closing date of this account).
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(173421 Points)
Replied 31 May 2018
Yes, over interest credited to CGAS acc. ... under 'IFOS'
siva andhavarapu
(ca final)
(388 Points)
Replied 31 May 2018
thankyou for reply sir.but my query is wehther he has to pay interest on the tax amount on capital gains.my question is not on interst gained on capital gain scheme
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(173421 Points)
Replied 31 May 2018
NO....... the withrawal amount will be taxed under capital gains (in the PY of withdrawal) without any further liability of interest.
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