Good news: Soon Capital Gains Account Scheme accounts can be closed online; Here’s how property sellers can benefit
The Economic Times·2025-11-21 02:30
Mihir Tanna, associate director, S.K Patodia LLP, says: “In our experience, there was a client who had his address in PAN set in his old home at Goa, but he is now in Mumbai. So when he sold a property and deposited the capital gains in a capital gains account scheme account in State Bank of India (SBI), he claimed Section 54 Property sellers can benefit from thisWhen a property is sold for profit, the gains are called capital gains as per income tax law and you need to pay tax on such gains. However under ...