Deposit Account under capital gains scheme 1988, Income Tax

[DEEPAK CHHABRA]

Can an assesse open two deposit accounts in a public sector bank in accordance with the Capital Gains Account Scheme 1988 for the purpose of utilisation of the same for purchase/construction of house property.

Posts / Replies

[GOPALJI AGRAWAL]

Legally speaking the words used are "an account" which is interpreted as any or more than one also.

But it would be better to deposit the same in one account to avoid the litigation.