capital gain account scheme

First be clear that the CGAS, 1988 is not for exemption for any long term capital gains.

It is a medium to park your gain amount till it is invested into any exemption scheme u/s. 54, 54F, etc.

The capital is to be deposited to the account before filling return of the corresponding year.

The unutilized capital on withdrawal (after 3 years) is taxable.