Given below is a list of the exemptions that can be claimed on gains made from capital assets.
Suppose a person does not buy a property within the 2 years and neither is he able to make some plans regarding the same within the stipulated period of 2 -3 year s. Then he has another option of getting tax exemption this can be done if he invests the gains or profits in the Capital Gains Accounts Scheme (CGAS) or any of the public sector banks. Tax exemption in this case is applicable if the money is invested in stated period as per bank rules. Otherwise, the deposit is treated as capital gain and tax deducted on it.
Subscribe to our newsletter
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705