unutilized money of CGAS 1988 in case of death

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  1. avinash tiwari

    avinash tiwari Member

    If the assesse hss LTCG and he has deposited money in capital gain account scheme 1988 to
    avail exemption u/s 54.
    What will be the tax treatment if assessee dies after one year???
     
    avinash tiwari, Apr 4, 2015
    #1
  2. rudrabose

    rudrabose Active Member

    In my personal opinion, there wont be any tax liability in this case and the legal heirs will get the full amount.

    The assessee is liable to reinvest and not his legal heirs.

    Views of other members on the same would also be highly appreciated.
     
    rudrabose, Apr 4, 2015
    #2
  3. avinash tiwari

    avinash tiwari Member

    Yes , I also think so . But want any reliable source!!
     
    avinash tiwari, Apr 6, 2015
    #3
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