Long Term Capital Gain
1 year ago
I am an unemployed female with minimal income from adhoc jobs and interest from banks. I have sold a property in Jan 201 and put the money in LTCG account with SBI. However due to various reasons and COVID there after did not utilized the amount in buying or constructing a property. Now I need the money for higher education of my kids, but I am being told that I will have to pay tax on the amount along with interest and penalty. What is the penalty and interest I need to pay. And is it fair to charge penalty and interest on my money which i have not used for a single day. I am ready to pay 20% tax on amount, is there a way to get rid of penalty and interest.
A.Dear Sir,
The Bankers will be having their own rules and regulations. You may get legal advise from any local chartered accountant or Auditor.
The Bankers will be having their own rules and regulations. You may get legal advise from any local chartered accountant or Auditor.
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