Section 54 and 54f capital gains

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POONAM GUPTA (Querist)
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01 November 2014 Assessee invested the capital gain arising from sale of property in a plot and was going to construct house on the plot. he availed exemption u/s 54, 54EC in 2011.Due to certain reasons he was not able to construct the house( Map was not sanctioned by the Govt. and since he is NRI he now plans to not construct the house).Will the amount of exemption availed be taxable in 2014???? Can the assessee now invest the gains in Bonds u/s 54EC and avoid Taxation???
What will be the tax implications???

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2014 once three years expire, the capital gains tax has to be paid....

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Section 54 and 54f capital gains

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