Deposit in Cap Gains Account in case of Loss on Sale of Property

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  1. sajith6791

    sajith6791 New Member

    Sir,
    I have purchased a house in the year 2008 and I have sold it for loss in March 2016. When the calculation was done using Indexation, I see it as a loss. Kindly let me know, whether I have to put the sale amount in CGAS account.

    I see a note somewhere in the internet, that the sale amount has to be put in CGAS account before the date of filing. If that is the case, I haven't opened a CGAS account till now, as I was not aware of this. Since I am incurring a loss here, should I put the amount in CGAS account?

    Kindly let me know, how to go about.

    Thanks,
    Saj
     
    sajith6791, Jul 26, 2016
    #1
  2. Karan Batra

    Karan Batra Well-Known Member

    You are not required to deposit the amount in the Cap Gains Account in case of Loss on Sale of Property
     
    Karan Batra, Jul 26, 2016
    #2
  3. sajith6791

    sajith6791 New Member

    Thanks a lot for your Reply.
     
    sajith6791, Jul 26, 2016
    #3
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