Last Date for opening Capital Gains Account in Bank

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  1. krishnamurthy

    krishnamurthy New Member

    What is the last date for opening an capital gain account in a bank , if the residential property is sold on 8th May, 2014.

    Ans:

    A. 07.11.2014

    B. 31.03.2015

    C. 31.07.2015


    D. None of the above
     
  2. sivadas chettoor

    sivadas chettoor New Member

    Depends on the due date applicable to the seller assessee
     
  3. rudrabose

    rudrabose Active Member

    Amount has to be deposted in the capital gains account before the due date of filing of return.

    Assuming, you are not a businessman liable to tax audit - your due date of filing of returns would be 31st July 2015 and therefore you would be required to deposit the amt in capital gains account by 31st July 2015
     
  4. SKM

    SKM New Member

    Thank you Sir.

    I am aged above 65, Individual , tax payee.
     
  5. SKM

    SKM New Member

    Sir,

    Thanks for your reply and advice. I am 65, individual , tax payee, this year my taxable income is over 8 lakhs. The amount for this capital gain account is from the sale of residential land.

    Thank u once again Sir.
     
  6. rudrabose

    rudrabose Active Member

    Dear @SKM

    Please clarify your query for us to be able to guide you in the right direction.
     
  7. krishnamurthy

    krishnamurthy New Member

    Sir,

    One Auditor says it should be deposited in the capital gain account before 31st March, 2015. My doubt is , it is not like that. Hence i need this forum's help. I hope u r satisfied with my reply. Thank u Sir.
     
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