income tax - sec 54 F
This query is : Resolved
Harsh Raiyani
(Querist)
06 September 2007
Sec. 54 F permits investment in new Resi Property within a period of 2 yrs/construction of new house within 3 yrs. If the same is not done by the due dt of filing the return, then the Capital Gain amt has to be deposited to seperate C. G. Scheme A/c.
Can we withdraw this amt for some other temperory investment before utilizing it for the ultimate purpose of acquisition of new House property.
Can we withdraw this amt for some other temperory investment before utilizing it for the ultimate purpose of acquisition of new House property.
Harsh Raiyani
(Querist)
06 September 2007
06 September 2007
No you cannot withdraw this money it has a lock in period of 3 to 5 years.
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