In case funds deposited in the capital gain account after the sale of property are not utilized in three years, what would be the LTCG tax payable and the interest/penalty calculation
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Capital gain account funds unutilised- tax and interest calculation
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amount not so utilised shall be charged under section 45as the income of the previous year in which the period of three years from the date of the transfer of the original asset expires
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Sir will it be the whole amount be considered as income or as a long term capital gain for that year i.e the previous year to the three years when the property was sold
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