Tax planning
Capital Gains Account Scheme 1988 deposit, use and withdrawal
- 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.
- Deadline: Deposit before filing the return and not later than its due date; use within 2 years (purchase) or 3 years (construction) of sale
- Done in 1 working day for the deposit note; Form G closure depends on the AO
- Prepared by your Savvy, checked by a CA
- Sale deed and sale consideration
- Will you buy a ready house
- Compute the amount to deposit
- Deposit amount working note
Capital Gains Account Scheme 1988…
Deposit before filing the return…
- IWhat we need from you7 documents
- DQuestions for you6 questions
- FForms7 steps
- DWhat you getDeposit amount working note
Answer in brief
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.
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Step 1 of 4 · What we need from you
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- Sale deed and sale consideration
- Cost and holding period workings
- Proof of amount already reinvestedOptional
- PAN, address proof, photograph
- Exemption section claimed
- Builder agreement or purchase papersOptional
- Passbook or deposit receipt
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Pay and start
₹1,999
₹1,999 + ₹359.82 GST = ₹2,358.82
Event based. 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
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