Tax planning
Capital Gains Account Scheme 1988 deposit, use and withdrawal
What this means, checked by a CA
If you sold a house, land or other long-term asset and have not bought the new house by the time you file your return, you must park the unused gain in a Capital Gains Account at an authorised bank to keep the exemption. We work out how much to deposit, help open the right account, plan each withdrawal with Forms C and D, and get the Assessing Officer's approval to close it. The exemption itself is CGN-IMM-01, CGN-EXM-01 and PRP-SEL-03.
₹1,999
Event based, + 18% GST
- Delivered in 1 working day for the deposit note; Form G closure depends on the AO
- Due: Deposit before filing the return and not later than its due date; use within 2 years (purchase) or 3 years (construction) of sale
How we do it: IDFD
Every case runs through the same four steps: Information, Discussion, Forms, Deliverables. You see each one ticked as it happens.
InformationWhat we need from you · 7 items
Sale deed and sale consideration
Sets gain and deposit amount
Cost and holding period workings
Long-term gain needed for exemption
Proof of amount already reinvestedOptional
Reduces the deposit needed
PAN, address proof, photograph
Form A account opening
Exemption section claimed
Separate account for each section
Builder agreement or purchase papersOptional
Bank asks before withdrawals
Passbook or deposit receipt
Needed for Forms C, D, G
DiscussionWhat we discuss · 6 items
Will you buy a ready house (2 years) or construct (3 years)?
Sets the deadline and declared purpose
Which section: house sold (54) or other asset sold (54F)?
Full gain or full net consideration
When will you file the return, and is it before the due date?
Deposit must precede filing
How soon will you need the money: savings Account A or term Account B?
Term deposit breaks attract penalty
Do you still plan to buy, or do you want to close and pay tax?
Form G with AO approval
Has a nominee been added?
Form H if the depositor dies
FormsForms we file · 7 items
Compute the amount to deposit
Sec 54/82: capital gain not yet used; Sec 54F/86: net sale consideration not yet used
Where: Internal. Due: Before filing the return
Open Account A (and Account B if wanted) with Form A, one account per section
Where: Authorised bank, non-rural branch. Due: Before filing the return and by the Sec 263 due date
Report the deposit and exemption in the capital gains schedule and keep the receipt
Where: https://www.incometax.gov.in. Due: Return due date
First withdrawal with Form C; later withdrawals with Form D showing use of the earlier one
Where: Deposit bank. Due: As payments to builder or seller fall due
Use each withdrawal within 60 days or redeposit it
Where: Internal. Due: 60 days from withdrawal
Tax any unused amount when the period ends
Sec 54: unused amount; Sec 54F: gain x unused amount / net consideration
Where: https://www.incometax.gov.in. Due: Return of the year in which 3 years from sale end
Apply to the Assessing Officer on Form G for closure, then submit the approval at the bank
Where: Jurisdictional AO, then deposit bank (online from 1 April 2027). Due: After use or after tax is paid
DeliverablesWhat you get · 4 items
Deposit amount working note
When: Same day
CGAS passbook or deposit receipt
When: On deposit
Filled Forms C or D for each withdrawal
When: Each payment
AO approval on Form G and closure
When: Two to three weeks, per users
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