Question ID :
40680
Capital Gain A/c Scheme deposit could not utilised due to Covid 19 - whether taxable
One assessee has deposited its sale consideration in capital gain account scheme in a nationalized bank. But 3 year has been elapsed and assessee could not utilised its money to construct a new house, however in a couple of month his builder is ready to get the possession and make the registry of his Flat.
Whether tax liability arises on him as he is not utilised his amount lying capital gain account scheme till 11th june the date where 3 years completed form sale of his capital assets (Plot)?
Posted by
Navin K. Gupta
on
Jun 11, 2020
Filed Under
Capital Gains
Capital gains liability arises.
Posted by
B.CHACKRAPANI WARRIER on
Jun 11, 2020