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Long term capitalgain account (in the case of site)

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(Querist)
05 April 2018 Long term capital gain amount deposited in capital gain account scheme. After 3 years can we utilize the amount or we have to purchase the house property. If we want to utilize the amount means is it taxble
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CA ANILKUMAR B.COM FCA DISA

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CA ANILKUMAR B.COM FCA DISA (Expert)
05 April 2018 Amount deposited should be used only for specified purposes as mentioned (purchase or consteuction). If not utilized within the period, same is taxable to the extent exemption claimed and not utilized.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
06 April 2018 Long term capital gains amount deposited to be used within 3 years for Purchase or Construction, If you fail you will be liable to Tax under the head LTCG.
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