For the capital gain generated through sale.of plot in Aug2018, long term capital gain account was opened with a nationalized bank and exemption was sought under section 54 for purchasing or constructing another a new house. But due to covid the amount remained unutilized and 3 years of exemption got over in Aug 2021. My query is that the unutilized gain will be treated as income for FY 21-22 or for the FY 18-19, since it was generated at that time and do we.need to pay interest as well on the income tax incase it is treated as income from FY18-19. Or do we just need to pay LTCG tax of 20 percent considering it as income in FY 21-22.
PLS HELP
CAclubindia
