15 October 2012
I am getting into a JDA for apartments in my land. Deemed capital gain would be 1cr. Planning to invest this in full in another house, where construction will be for next 3 yrs and will be paying in installments. I am expecting to pay around 50lacs by Mar 31st. I will be paying rest 50lacs in installments. Is it required to deposit 50lacs in capital gain saving a/c by 31Mar? If it is the case, I will have to take a home loan of 50lacs and keep 50lacs I have in the capital gain a/c! this does not make sense....
CAclubindia
