What are the tax implications in the section 54 of Income Tax Act 1961,
when=If we sold a residential propery and purchased a residential plot , where the construction has not been completed within 3 years of acquisition.
No amount is deposited under CAGS?
as per the provisions of the income tax actsec 54 in particular, if the the amt of capital gain deposited in a special account /construction of the house is not utilised/ completed within 3 years then the entire gains would be subject to capital gains as ltcg
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