I would like to know whether the capital gains tax liability is simply deferred for three years or fully exempt on purchasing of NHAI or REI bonds.
To be more specific if the assessee purchases the above mentioned bonds out of his capital gains money and holds it for a period of three years, and even after expiry of three years he does not utilise the money to purchase any other capital asset of the same nature , then whether he shall be liable for capital gains tax after the expiry of the period.
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