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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2012 I have sold my house and deposited gain amount in capital gain account scheme to claim benefit U/s 54. After completing 2 and 1/2 yr I have doubt that I can use funds for construction of new house. Can I withdraw money to invest in bonds and can i claim benefit U/s 54EC?
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Amol S Joglekar

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Amol S Joglekar (Expert)
02 July 2012 You can withdraw amount by filling form E and getting sanction from appropriate ITO. Recently many courts have taken a liberal view that 54EC investments can be made even after a period of 6 months. See if you like to take CHANCE. (Chance taker is always regarded as accident maker)
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