Rules for section 54 F of Income Tax Act

This query is : Resolved 

19 October 2008 Hello

Can someone guide me about deposit rules for LTCG under section 54F when someone want to deposit the amount of consideration in a special account.How same can be used i.e whats rules for its utilization for purchase or construction of the house.

Thanks and Regards

Prem

19 October 2008 It is capital gains account scheme,1988 vide notification no GSR 724 (E) dt 22/06/1988 published in 172 ITR (st) 54.


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