{"id":1124,"date":"2025-02-11T08:46:09","date_gmt":"2025-02-11T08:46:09","guid":{"rendered":"https:\/\/caalokkumar.com\/my-writing\/?p=1124"},"modified":"2025-02-11T08:48:43","modified_gmt":"2025-02-11T08:48:43","slug":"comprehensive-guide-on-capital-gains-tax-in-india","status":"publish","type":"post","link":"https:\/\/caalokkumar.com\/my-writing\/comprehensive-guide-on-capital-gains-tax-in-india\/","title":{"rendered":"Comprehensive Guide on Capital Gains Tax in India"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Introduction to Capital Gains Tax<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Capital Gains Tax<\/strong>&nbsp;is levied on the&nbsp;<strong>profit<\/strong>&nbsp;earned from the sale of a&nbsp;<strong>capital asset<\/strong>&nbsp;during a financial year. The taxability of such gains falls under the head&nbsp;<strong>&#8220;Capital Gains&#8221;<\/strong>&nbsp;in the Income Tax Act, 1961. Capital gains are further classified as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Long-Term Capital Gains (LTCG)<\/strong>&nbsp;\u2013 Arising from the transfer of long-term capital assets.<\/li>\n\n\n\n<li><strong>Short-Term Capital Gains (STCG)<\/strong>&nbsp;\u2013 Arising from the transfer of short-term capital assets.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Capital gains are subject to different&nbsp;<strong>tax rates<\/strong>,&nbsp;<strong>computation methods<\/strong>, and&nbsp;<strong>indexation benefits<\/strong>, depending on whether they are short-term or long-term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is a Capital Asset?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A&nbsp;<strong>capital asset<\/strong>&nbsp;refers to any kind of&nbsp;<strong>property<\/strong>&nbsp;owned by an individual, whether or not it is used for business or profession. It includes:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Real estate (land, buildings, houses, flats, etc.)<\/strong><\/li>\n\n\n\n<li><strong>Shares, bonds, and securities<\/strong><\/li>\n\n\n\n<li><strong>Jewelry, paintings, sculptures, and works of art<\/strong><\/li>\n\n\n\n<li><strong>Mutual funds and financial instruments<\/strong><\/li>\n\n\n\n<li><strong>Gold and precious metals<\/strong><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Exclusions from Capital Assets<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Certain items are&nbsp;<strong>not<\/strong>&nbsp;considered capital assets and are&nbsp;<strong>not taxable under Capital Gains Tax<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Stock-in-trade, consumable stores, and raw materials<\/strong>&nbsp;(used for business purposes).<\/li>\n\n\n\n<li><strong>Personal effects<\/strong>&nbsp;(movable property for personal use, except for jewelry, paintings, and collectibles).<\/li>\n\n\n\n<li><strong>Agricultural land in rural areas<\/strong>&nbsp;(as per specified conditions).<\/li>\n\n\n\n<li><strong>Government-issued bonds<\/strong>&nbsp;such as 6.5% Gold Bonds, Special Bearer Bonds, and Gold Monetization Scheme certificates.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Types of Capital Gains: Long-Term vs. Short-Term<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Capital assets are classified as&nbsp;<strong>long-term or short-term<\/strong>, based on their&nbsp;<strong>holding period<\/strong>&nbsp;before the sale.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Classification Criteria (Before &amp; After July 23, 2024)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Asset Type<\/strong><\/td><td><strong>Before July 23, 2024&nbsp;(Short-Term if Held for \u2264)<\/strong><\/td><td><strong>After July 23, 2024&nbsp;(Short-Term if Held for \u2264)<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Immovable property (land\/building\/both)<\/strong><\/td><td>24 months<\/td><td>24 months<\/td><\/tr><tr><td><strong>Unlisted shares<\/strong><\/td><td>24 months<\/td><td>24 months<\/td><\/tr><tr><td><strong>Listed shares, mutual funds, government securities, UTI, zero-coupon bonds<\/strong><\/td><td>12 months<\/td><td>12 months<\/td><\/tr><tr><td><strong>Other capital assets<\/strong><\/td><td>36 months<\/td><td>24 months<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Short-Term Capital Gain (STCG)<\/strong>: Profit from sale of&nbsp;<strong>short-term capital assets<\/strong>.<\/li>\n\n\n\n<li><strong>Long-Term Capital Gain (LTCG)<\/strong>: Profit from sale of&nbsp;<strong>long-term capital assets<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Exception:<\/strong>&nbsp;Gains from&nbsp;<strong>depreciable assets<\/strong>&nbsp;are&nbsp;<strong>always considered short-term capital gains<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Computation of Capital Gains<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. How to Calculate Long-Term Capital Gains (LTCG)?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For assets sold&nbsp;<strong>before July 23, 2024<\/strong>:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Particulars<\/strong><\/td><td><strong>Amount (\u20b9)<\/strong><\/td><\/tr><\/thead><tbody><tr><td>Full sale consideration<\/td><td>XXXXX<\/td><\/tr><tr><td>Less: Transfer-related expenses (brokerage, commission, legal fees, etc.)<\/td><td>(XXXXX)<\/td><\/tr><tr><td>Net Sale Consideration<\/td><td>XXXXX<\/td><\/tr><tr><td>Less:&nbsp;<strong>Indexed Cost of Acquisition<\/strong><\/td><td>(XXXXX)<\/td><\/tr><tr><td>Less:&nbsp;<strong>Indexed Cost of Improvement<\/strong>&nbsp;(if any)<\/td><td>(XXXXX)<\/td><\/tr><tr><td><strong>Long-Term Capital Gain<\/strong><\/td><td>XXXXX<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Indexed Cost of Acquisition Formula:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cost&nbsp;of&nbsp;Acquisition\u00d7Cost&nbsp;Inflation&nbsp;Index&nbsp;(CII)&nbsp;of&nbsp;year&nbsp;of&nbsp;saleCII&nbsp;of&nbsp;year&nbsp;of&nbsp;purchaseCost&nbsp;of&nbsp;Acquisition\u00d7CII&nbsp;of&nbsp;year&nbsp;of&nbsp;purchaseCost&nbsp;Inflation&nbsp;Index&nbsp;(CII)&nbsp;of&nbsp;year&nbsp;of&nbsp;sale\u200b<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Indexed Cost of Improvement Formula:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cost&nbsp;of&nbsp;Improvement\u00d7CII&nbsp;of&nbsp;year&nbsp;of&nbsp;saleCII&nbsp;of&nbsp;year&nbsp;of&nbsp;improvementCost&nbsp;of&nbsp;Improvement\u00d7CII&nbsp;of&nbsp;year&nbsp;of&nbsp;improvementCII&nbsp;of&nbsp;year&nbsp;of&nbsp;sale\u200b<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For&nbsp;<strong>transfers on or after July 23, 2024<\/strong>,&nbsp;<strong>indexation on improvement costs is no longer allowed<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. How to Calculate Short-Term Capital Gains (STCG)?<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Particulars<\/strong><\/td><td><strong>Amount (\u20b9)<\/strong><\/td><\/tr><\/thead><tbody><tr><td>Full sale consideration<\/td><td>XXXXX<\/td><\/tr><tr><td>Less: Transfer-related expenses (brokerage, commission, etc.)<\/td><td>(XXXXX)<\/td><\/tr><tr><td>Net Sale Consideration<\/td><td>XXXXX<\/td><\/tr><tr><td>Less:&nbsp;<strong>Cost of Acquisition<\/strong><\/td><td>(XXXXX)<\/td><\/tr><tr><td>Less:&nbsp;<strong>Cost of Improvement<\/strong>&nbsp;(if any)<\/td><td>(XXXXX)<\/td><\/tr><tr><td><strong>Short-Term Capital Gain<\/strong><\/td><td>XXXXX<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Indexation benefit is NOT available for STCG.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Tax on Capital Gains<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Short-Term Capital Gains (STCG):<\/strong>&nbsp;Taxed at&nbsp;<strong>applicable slab rates<\/strong>&nbsp;or&nbsp;<strong>15%<\/strong>&nbsp;(on equity shares &amp; mutual funds).<\/li>\n\n\n\n<li><strong>Long-Term Capital Gains (LTCG):<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>10% (without indexation)<\/strong>&nbsp;on equity shares &amp; mutual funds (exceeding \u20b91 lakh).<\/li>\n\n\n\n<li><strong>20% (with indexation)<\/strong>&nbsp;for other capital assets.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Capital Gains Tax for NRIs (Non-Resident Indians)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NRI Capital Gains Tax and Property Sale Implications<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax on Capital Gains for NRIs<\/strong>&nbsp;applies at special rates:\n<ul class=\"wp-block-list\">\n<li><strong>LTCG on property<\/strong>: 20% (with indexation).<\/li>\n\n\n\n<li><strong>STCG on property<\/strong>: As per&nbsp;<strong>income tax slab rates<\/strong>.<\/li>\n\n\n\n<li><strong>NRI Capital Gains on shares<\/strong>: 10% (LTCG), 15% (STCG).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>TDS (Tax Deducted at Source) for NRI Property Sale Tax<\/strong>:\n<ul class=\"wp-block-list\">\n<li><strong>20% on LTCG<\/strong>&nbsp;(with indexation).<\/li>\n\n\n\n<li><strong>30% on STCG<\/strong>&nbsp;(if taxable under the highest slab).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Repatriation of funds from property sale (NRI)<\/strong>: Subject to&nbsp;<strong>RBI and FEMA rules<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Capital Gains Exemptions &amp; Reinvestment Benefits<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A taxpayer can&nbsp;<strong>reinvest capital gains<\/strong>&nbsp;to claim&nbsp;<strong>exemptions<\/strong>&nbsp;under various sections:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Section<\/strong><\/td><td><strong>Eligible Assessee<\/strong><\/td><td><strong>Investment Type<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>54<\/strong><\/td><td>Individual\/HUF<\/td><td>Residential house (max 2 properties if LTCG \u2264 \u20b92 crore)<\/td><\/tr><tr><td><strong>54B<\/strong><\/td><td>Individual\/HUF<\/td><td>Agricultural land<\/td><\/tr><tr><td><strong>54EC<\/strong><\/td><td>Any person<\/td><td><strong>Bonds<\/strong>&nbsp;(NHAI, REC) (max \u20b950 lakh)<\/td><\/tr><tr><td><strong>54F<\/strong><\/td><td>Individual\/HUF<\/td><td>Residential house (if selling any asset except a house)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Section 54EC Bonds<\/strong>:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investment must be made&nbsp;<strong>within 6 months<\/strong>&nbsp;of sale.<\/li>\n\n\n\n<li>The amount&nbsp;<strong>cannot exceed \u20b950 lakh<\/strong>.<\/li>\n\n\n\n<li>Lock-in period:&nbsp;<strong>5 years<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Stamp Duty Value &amp; Its Role in Capital Gains Calculation<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Under&nbsp;<strong>Section 50C<\/strong>, if the&nbsp;<strong>actual sale price<\/strong>&nbsp;of a property is&nbsp;<strong>less than the stamp duty value<\/strong>, the&nbsp;<strong>stamp duty value is deemed as the sale price<\/strong>&nbsp;for calculating capital gains.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Exception: If the&nbsp;<strong>stamp duty value does not exceed 105% of the actual sale price<\/strong>, then the actual sale price is used.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Capital Gains Account Scheme (CGAS)<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If a taxpayer&nbsp;<strong>fails to reinvest capital gains<\/strong>&nbsp;before filing an income tax return, they can&nbsp;<strong>deposit the amount<\/strong>&nbsp;in a&nbsp;<strong>Capital Gains Account (CGA)<\/strong>&nbsp;before the&nbsp;<strong>due date of ITR filing<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest on Capital Gains Account is taxable<\/strong>&nbsp;under&nbsp;<strong>Income from Other Sources<\/strong>.<\/li>\n\n\n\n<li>Withdrawal requires&nbsp;<strong>Form C\/D for Account A<\/strong>&nbsp;and&nbsp;<strong>Form B for Account B<\/strong>.<\/li>\n\n\n\n<li>For&nbsp;<strong>account closure<\/strong>,&nbsp;<strong>Form G (with AO\u2019s approval)<\/strong>&nbsp;is needed.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Capital Gains Tax Filing &amp; Forms<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Capital Gains Tax Form<\/strong>: Reported in&nbsp;<strong>Schedule CG of ITR-2\/ITR-3<\/strong>.<\/li>\n\n\n\n<li><strong>How to Calculate Capital Gains Tax<\/strong>: Using the&nbsp;<strong>Capital Gains Calculator<\/strong>&nbsp;based on acquisition cost, sale price, indexation, and exemptions.<\/li>\n\n\n\n<li><strong>Capital Gains Audit<\/strong>: If total income exceeds prescribed limits, an audit under&nbsp;<strong>Section 44AB<\/strong>&nbsp;may be required.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Taxability of Interest Earned on Capital Gains Account Deposit<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The interest received on deposits made under the&nbsp;<strong>Capital Gains Account Scheme (CGAS)<\/strong>&nbsp;is&nbsp;<strong>taxable<\/strong>.<\/li>\n\n\n\n<li>The&nbsp;<strong>Capital Gains Account Scheme<\/strong>&nbsp;helps taxpayers defer capital gains tax when they haven&#8217;t reinvested the capital gains in a new asset before the due date of filing their income tax return.<\/li>\n\n\n\n<li>If the taxpayer has not utilized the capital gains:\n<ul class=\"wp-block-list\">\n<li>To acquire a new asset before the due date of filing the return,<\/li>\n\n\n\n<li>The capital gains amount can be deposited in a&nbsp;<strong>special account<\/strong>&nbsp;in a nationalized bank.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The interest earned on this deposit is taxable under the head&nbsp;<strong>&#8220;Income from Other Sources&#8221;<\/strong>.<\/li>\n\n\n\n<li>Tax is levied on this interest in the&nbsp;<strong>year it accrues<\/strong>, and it is credited to the&nbsp;<strong>capital gains account of the assessee<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Taxability of Profit from Sale of Land or Building<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gains from the sale of land or buildings<\/strong>&nbsp;are taxed under the head&nbsp;<strong>&#8220;Capital Gains&#8221;<\/strong>.<\/li>\n\n\n\n<li>If the&nbsp;<strong>stamp duty value<\/strong>&nbsp;(as assessed by the government) is higher than the actual sale consideration, then the stamp duty value will be considered as the&nbsp;<strong>full value of consideration<\/strong>&nbsp;for taxation purposes, provided:\n<ol start=\"1\" class=\"wp-block-list\">\n<li>The asset transferred is&nbsp;<strong>land or a building<\/strong>.<\/li>\n\n\n\n<li>The&nbsp;<strong>sale consideration<\/strong>&nbsp;is&nbsp;<strong>less than<\/strong>&nbsp;the value determined by the stamp duty authority.<\/li>\n\n\n\n<li>The&nbsp;<strong>stamp duty value exceeds 105%<\/strong>&nbsp;of the sale consideration received.&nbsp;<em>(Applicable from A.Y. 2019-20)<\/em>.<\/li>\n<\/ol>\n<\/li>\n\n\n\n<li>The&nbsp;<strong>stamp duty value<\/strong>&nbsp;as of the&nbsp;<strong>date of property registration<\/strong>&nbsp;is considered for tax purposes.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Exception<\/strong>:<br>If the&nbsp;<strong>agreement date<\/strong>&nbsp;(when price is fixed) and&nbsp;<strong>registration date<\/strong>&nbsp;are different, then the&nbsp;<strong>stamp duty value as of the agreement date<\/strong>&nbsp;will be considered\u2014provided:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The consideration (full or partial) was received via&nbsp;<strong>banking channels<\/strong>&nbsp;(cheque\/draft\/electronic transfer).<\/li>\n\n\n\n<li>The payment was received&nbsp;<strong>before<\/strong>&nbsp;the agreement date.<\/li>\n\n\n\n<li>This exception applies from&nbsp;<strong>A.Y. 2017-18<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Forms for Withdrawal from Capital Gain Account<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>As per Rule 9 of CGAS, 1988<\/strong>, the withdrawal process is:<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>For Account-A<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Initial withdrawal: Form&nbsp;<strong>C<\/strong>&nbsp;is required along with the passbook.<\/li>\n\n\n\n<li>Subsequent withdrawals: Form&nbsp;<strong>D<\/strong>&nbsp;(in duplicate) is required, along with details of the&nbsp;<strong>previous withdrawal and its utilization<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>For Account-B<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The amount must be&nbsp;<strong>transferred to Account-A<\/strong>&nbsp;before withdrawal.<\/li>\n\n\n\n<li>The depositor must apply in&nbsp;<strong>Form B<\/strong>&nbsp;to transfer funds from&nbsp;<strong>Account-B to Account-A<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Closing a Capital Gains Account (CGAS) When Only Interest is Left<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Procedure for Closure (As per Rule 13 of CGAS, 1988)<\/strong>:\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<strong>depositor<\/strong>&nbsp;(excluding eligible companies under&nbsp;<strong>Section 54GB<\/strong>) must submit:\n<ul class=\"wp-block-list\">\n<li><strong>Form G<\/strong>, duly endorsed by the&nbsp;<strong>Assessing Officer (AO)<\/strong>.<\/li>\n\n\n\n<li>Passbook (Account-A) or deposit receipt (Account-B).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The bank will&nbsp;<strong>credit the remaining amount (interest) to the depositor\u2019s bank account<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>For Companies Eligible Under Section 54GB<\/strong>:\n<ul class=\"wp-block-list\">\n<li>A&nbsp;<strong>joint application<\/strong>&nbsp;(signed by the eligible assessee) in&nbsp;<strong>Form G<\/strong>&nbsp;must be submitted to the deposit office&nbsp;<strong>with AO\u2019s prior approval<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>For Deceased Depositors<\/strong>:<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>If a nominee is registered<\/strong>, the nominee should submit:\n<ul class=\"wp-block-list\">\n<li><strong>Form H<\/strong>&nbsp;(endorsed by AO).<\/li>\n\n\n\n<li>Passbook (Account-A) or deposit receipt (Account-B).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>If no nominee is registered<\/strong>, the legal heir must submit:\n<ul class=\"wp-block-list\">\n<li><strong>Form H<\/strong>&nbsp;(endorsed by AO).<\/li>\n\n\n\n<li>Legal documents like&nbsp;<strong>succession certificate<\/strong>,&nbsp;<strong>probate of will<\/strong>, or&nbsp;<strong>letter of administration<\/strong>.<\/li>\n\n\n\n<li>If multiple legal heirs exist, one heir can apply with an&nbsp;<strong>authorization letter<\/strong>&nbsp;from the others.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>After approval, the&nbsp;<strong>bank will transfer the remaining funds (including interest) to the bank account of the nominee or legal heir<\/strong>.<\/li>\n<\/ul>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/caalokkumar.com\/my-writing\/wp-content\/uploads\/2025\/02\/SC-order-of-MW-11-.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of SC order of MW 11.\"><\/object><a id=\"wp-block-file--media-e89460d2-ccc8-4452-b2fa-9af020887246\" href=\"https:\/\/caalokkumar.com\/my-writing\/wp-content\/uploads\/2025\/02\/SC-order-of-MW-11-.pdf\">SC order of MW 11<\/a><a href=\"https:\/\/caalokkumar.com\/my-writing\/wp-content\/uploads\/2025\/02\/SC-order-of-MW-11-.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-e89460d2-ccc8-4452-b2fa-9af020887246\">Download<\/a><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Read More :- <a href=\"https:\/\/caalokkumar.com\/my-writing\/supreme-court-income-tax-offence-before-show-cause-notice-compoundable\/\"><strong>Supreme Court: Offence Before Show-Cause Notice is \u2018First Offence\u2019 Under Income Tax Compounding Guidelines<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/caalokkumar.com\/contact.php\">Capital Gain Tax Planning<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/itrkendra.com\" target=\"_blank\" rel=\"noopener\"><strong>Tax Filing Services in Dwarka Delhi<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/wealth4india.com\" target=\"_blank\" rel=\"noopener\">Company Registration in Dwarka Delhi<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction to Capital Gains Tax Capital Gains Tax&nbsp;is levied on the&nbsp;profit&nbsp;earned from the sale of a&nbsp;capital asset&nbsp;during a financial year. The taxability of such gains falls under the head&nbsp;&#8220;Capital Gains&#8221;&nbsp;in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax-act-1961"],"_links":{"self":[{"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/posts\/1124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/comments?post=1124"}],"version-history":[{"count":3,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/posts\/1124\/revisions"}],"predecessor-version":[{"id":1137,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/posts\/1124\/revisions\/1137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/media\/1130"}],"wp:attachment":[{"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/media?parent=1124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/categories?post=1124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/caalokkumar.com\/my-writing\/wp-json\/wp\/v2\/tags?post=1124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}