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Q.

I sold residential property in December 2022 till what time I can deposit money in CGAS?

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0 2023-07-28T13:12:07+00:00

Hey there,

If you sold a residential property in December 2022, you have time until the specified due date for filing your income tax return for the financial year 2022-2023 (assessment year 2023-2024) to deposit the money in the Capital Gains Account Scheme (CGAS). The due date for filing income tax returns for individual taxpayers is generally July 31st of the assessment year. However, this due date may be extended by the government, so it's essential to keep an eye on any updates or notifications from the income tax department regarding the due date. It is advisable to consult a tax professional to ensure compliance with all tax-related requirements.

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