exemption u/s 54

Juhee (CA Final Student) (40 Points)

18 November 2009  

If amount deposited u/s 54 of the income tax act, 1961 is withdrawn for purposes other than for investment in new redential house property before the completion of 3 years, then when should the amount of capital gains be taxed , in the year of withdrawal or after the completion of 3 years?