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Long term capital gain tax

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(Querist)
28 January 2013 Can I take out the principle amount which I used to purchase the house that i am selling now after holding for 3 years or principle amount also needs to be deposited in capital gain account/utilised for purchasing the new house for getting exemption from Long Term Capital Gain Tax?
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kunal

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kunal (Expert)
28 January 2013 if you are availing exemption u/s 54F then you have to deposit whole amount of sale consideration,
if you availing exemption u/s 54 then you have to deposit only capital gain to get full exemption

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