CAPITAL GAIN

60,00,000/- AMOUNT OF PROPERTY SOLD WAS PUT IN CAPITAL GAIN SB A/C  NOW ALMOST 1.5 YEARS OVER NOT ABLE TO CONSTRUCT OR BUY NEW PROPERTY  NOW WHAT TO DO TO AVOID CAPTIAL GAIN TAX 

ANY OPTION TO EXTEND THE TIME OF UTILISATION OR ANY THING ELSE IS POSSIBLE

 

Replies (1)
If you fail to re-invest into residential property within time permitted then you will have to pay tax on capital gain amount (which was allowed earlier as exempt) in the FY in which re-invest time limit expires.

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