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CGAS ACCOUNT
Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Man sold land for Rs 3.21 crore, denied tax relief under Section 54F: Why ITAT Pune allowed full tax exemptionA Pune man successfully challenged the Income Tax Department, securing a full tax exemption on his Rs 3.21 crore land sale. Despite a techn...
- CGAS deposit should be on actual sale consideration received from the property instead of stamp duty, Why Budget 2026 must fix thisBudget 2026 should address discrepancies in the Capital Gain Account Scheme (CGAS) by basing deposits on actual sale consideration, not sta...
- ITR filers face several issues with Capital Gains Account Scheme - experts suggest fixes in Budget 2026Taxpayers face difficulties with the Capital Gains Account Scheme. Experts propose Budget 2026 reforms to simplify the process. They want o...
- ICICI Bank launches Capital Gains Account Scheme: Know how you can deposit uninvested capital gains to save income taxICICI Bank introduces a Capital Gains Account Scheme starting January 1, 2025. This scheme allows resident individuals and HUFs to deposit ...
- Good news: Soon Capital Gains Account Scheme accounts can be closed online; Here’s how property sellers can benefitExciting news for property sellers! Starting April 1, 2027, you can now effortlessly close your Capital Gains Account Scheme accounts onlin...
- Major update on Capital Gains Account Scheme: 19 new banks authorised to offer CAGS services for saving income tax by property sellersNineteen new banks are now authorized to offer Capital Gains Account Scheme Services. This expansion provides more options for taxpayers to...
- Get full tax exemption on sale of farm land by using this tax provisionIndian taxpayers, especially individuals and HUFs, can save on taxes by reinvesting capital gains from agricultural land sales into new agr...
- Sold your house property or land? These nine sections in Income Tax law can help save capital gains taxIndians can save capital gains tax on property sales. The Income Tax Act offers nine sections for tax reduction or zero tax. Sections cover...
- How to file ITR if you have sold house or land in FY 2024-25For AY 2025-26, individuals and HUFs selling property can save on capital gains by reinvesting in another property under Section 54/54F. Ch...
- LTCG tax: Paying only 12.5% tax on Capital Gains Accounts Scheme withdrawals while filing ITR FY2024-25? Tax dept could soon raise tax demandThe Capital Gains Account Scheme is a special facility offered to taxpayers under the current income tax laws, allowing taxpayers to claim ...
- When to use Capital Gains Account Scheme to save income tax if you made long-term capital gains after selling land, property, equities, etc.?Capital gains: Both Indian residents and NRIs can use Capital Gains Account Scheme (CGAS) to save paying capital gains tax on long-term cap...
- CGAS Account: How to open a Capital Gains Account SchemeCGAS Account: How to open a Capital Gains Account Scheme
- Capital Gains Account Scheme: Who can open an account, how to openThe taxpayer should have capital gains from the sale or transfer of assets specified in Sections 54 to 54GB. The CGAS scheme is applicable ...
- Sold a property? Here's all you need to know about investing the capital gainsAn individual is required to invest capital gains earned from selling property in specified instruments to save tax. If such investment is ...
- How much tax are you liable to pay on long-term capital gains on property?"If the amount is not utilised within three years for purchasing/constructing a house, it will be taxable after the expiry of three years f...
- 6 smart things to know about Capital Gain Account SchemeCGAS helps in parking sale proceeds of a property without capital gains tax liability
- All you need to know about Capital Gain Account SchemeThe CGAS account can be opened only with an authorised/approved bank branch. Rural branches of banks are not included.
- ET Wealth: Five things to know about Capital Gain Account SchemeThe gains, deposited in the CGAS, should be reinvested in a residential property within two years or used to construct a house within three...
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