Long term capital gain
This query is : Resolved
08 March 2014
what are the consequence if someone not utilise his capital gain invested in capital gain account scheme after the expiry of said period of 2 years
08 March 2014
well there is no consequence after two years...however, if he/she doesnt utilize the balance in CGAS account by the end of 3rd year, the whole of the balance shall be taxed in that third year.
11 March 2014
the material year is 3 and not 2 so think that it must be utilised in 3 years anyhow.
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