| Question And Answer | |
|---|---|
| Subject: | capital gains scheme |
| Category: | Income-Tax |
| Querist: | BKS |
| Answered by: | Law Intern |
| Tags: | Capital Gains, Capital Gains Account Scheme (CGAS) |
| Date: | May 19, 2025 |
LTCG sale price invested in cap gain scheme account
till what date it has to be used ?
If unused for long time , what will happen to exemption u/s 54F earlier claimed ?
In the year of withdrawal, will it be LTCG or STCG
The amount deposited in the CGAS has to be utilized for the purchase or construction of a new residential property within 2 years/ 3 years from the date of transfer of the original asset.
The unutilized amount in the CGAS is assessable as Long-Term Capital Gain in the financial year in which the period of 3 years from the date of transfer of the original asset expires.
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