Taxpayers Can Use Capital Gains Account Scheme for Deferred Investments; Interest Taxable as "Income from Other Sources"
The Capital Gains Account Scheme allows taxpayers to deposit capital gains in a special bank account if they cannot invest in a new asset before the income tax return due date. Interest earned on this account is taxable under "Income from Other Sources" and is charged in the year it accrues, credited to the taxpayer's capital gain account.
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